News
WSJ | EU Urges Action to Fix Debt Woes
The European Commission Wednesday distanced itself from a German, Finnish and Dutch statement that appeared to dash hopes that the euro zone's bailout fund could soon be used to directly recapitalize banks in countries like Spain, which stands on the brink of bankruptcy because of a severe banking crisis.
Roll Call | House Quiet on Fiscal Cliff Strategy
The Senate is abuzz with meetings, planning and trial balloons on how Congress will address the fiscal cliff, a phenomenon that threatens a combination of tax hikes and spending cuts in the new year that most economists believe could tip the United States back into recession.
Econ Comments & Analysis
Real Clear Markets | Will Texas Squander Its Prosperity?
Texas has been on a roll recently. Fueled by a booming energy sector, the state has easily outpaced others in job growth. Business executives consistently rate it among the most desirable places to invest in, and Texas has made a habit recently of poaching jobs from places like California.
WSJ | Guessing the Fiscal Cliff's Fate
Is Congress going to drive the U.S. economy over the fiscal cliff? Is Washington so dysfunctional that Congress and the president, risking renewed recession, will let taxes rise sharply and spending be cut across the board?
AEI | Has the ECB really solved the Euro crisis?
Judging by the very favorable market reaction to Mario Draghi's announcement in July 2012 that the ECB would do whatever it took to save the euro, one could be forgiven for thinking that the European debt crisis has now finally been resolved. However, European policymakers would be making a grave mistake if they were to allow themselves to be lulled into a false sense of security by the market's relative calm.
Blogs
National Review | The President’s Trillion-Dollar Deficits
Who remembers President Obama’s first budget? I do. It was called “A New Era of Responsibility.” Back then, the president promised that he would cut the deficit to $912 billion in 2011 and to $581 billion by 2012. But that’s another of the president’s promises that never come to pass.
