News
Market Watch | U.S. current-account deficit narrows
The amount the U.S. owes to the rest of the world, known as the current-account deficit, fell by 12% in the second quarter, primarily because of lower oil imports and higher income transfers such as U.S. earnings on investments abroad.
Econ Comments & Analysis
AEI: The American | Missing in Action: Growth
Neither party denies that our growing debt is rapidly taking us in the wrong direction, but neither party is giving the best remedy—economic growth enhancement—the top billing it deserves.
NBER | Over-optimistic Official Forecasts in the Eurozone and Fiscal Rules
Why do countries find it so hard to get their budget deficits under control? Systematic patterns in the errors that official budget agencies make in their forecasts may play an important role. Although many observers have suggested that fiscal discipline can be restored via fiscal rules such as a legal cap on the budget deficit, forecasting bias can defeat such rules.
CBO | Choices for Federal Spending and Taxes
What factors are putting increasing pressure on the Budget?
Blogs
NRO: The Corner | Fears Over Sequestration Are Overblown
Moreover, with the national debt exceeding $16 trillion, a gross-debt-to-GDP ratio above 100 percent, and Moody’s Investors Service warning of another potential credit downgrade, we need to cut through the rhetoric and face the facts. Defense sequester cuts simply do not warrant the fears they have prompted.
