News
WSJ | Borrowing Weighs on U.K. Debt Goals
The British government, which looks increasingly likely to overshoot its borrowing target as it struggles with a slumping economy, is stepping up efforts to tout the U.K. as a good place to invest.
Bloomberg | Fed Recovery Doubts Spur Investor Bid for Treasuries
U.S. investors are buying Treasuries at a faster pace than foreigners for the first time since 2010, aiding the government in its efforts to borrow as total public debt outstanding rises above $16 trillion.
WSJ | Pension Crisis Looms Despite Cuts
Almost every state in the U.S. has made cuts to its public-employee pensions, seeking to dig out from the economic downturn, but so far the measures have fallen well short of bridging a nearly $1 trillion funding gap.
WSJ | Senate Passes $500 Billion Funding Bill
In their last act in Washington before the Nov. 6 elections, Senate lawmakers voted to approve a roughly $500 billion bill to fund the federal government for six months from Oct. 1.
CNN Money | Romney's balanced budget: Tall order
Mitt Romney says he would balance the federal budget by the end of his second term. So what would it take? In short, a lot.
National Journal | Senate Approves Continuing Resolution
Forced to vote in the middle of the night due to procedural hurdles, the Senate early on Saturday morning passed a continuing resolution, 62-30, to keep the government funded through late March at an annual rate of $1.047 trillion. President Obama is expected to sign the stopgap bill shortly.
Econ Comments & Analysis
WSJ | How Canada Saved Its Bacon
Former Canadian Prime Minister Paul Martin has a stern warning for the U.S. political class: Get real about the gap between federal revenues and spending, or get ready for disaster.
Forbes | Rick Ungar Is Wrong: Obama Is The Biggest Spender In World History
On May 24, 2012, Rick Ungar told the readers at Forbes.com that President Barack Obama “is the smallest government spender since Eisenhower.” “[O]ur president has actually been tighter with a buck than any United States president since Dwight D. Eisenhower,” Ungar insisted.
Blogs
Market Watch | Fiscal cliff would hit poor, rich the most
According to analysis from Goldman Sachs, the average hit to disposable incomes would be 4% but the poor and the rich would see the biggest impact on income.
