News
National Journal | Congress Could Punt On the Fiscal Cliff
Lawmakers are downplaying hopes that they will avert the so-called fiscal cliff of expiring tax cuts and automatic budget cuts set to hit in January with a major deficit-reduction and tax deal, but they suggest a partial fix is likely.
WSJ | Greek, European Officials Dispute Budget Reprieve
Greece said Wednesday that a loan agreement it is negotiating with its creditors would give the country an additional two years to meet its budget targets in exchange for deep budget cuts and other measures.
National Journal | White House Holds Back on Sequester Details
There’s a funny thing happening at federal agencies. When it comes to the details of the looming $1.2 trillion cut to their budgets, agency officials find themselves unable to explain just how those cuts would affect myriad programs on the ground. Instead, they have a unified message: talk to the Office of Management and Budget.
Blogs
Neighborhood Effects | States Look to Rainy Day Funds to Avoid Future Crises
For the past nine quarters, state revenue collections have been increasing and are now approaching 2008 levels after adjusting for inflation. Many state policymakers are no longer facing the near-ubiquitous budget gaps of fiscal year 2012, but at the moment those memories seem to remain fresh in their minds.
National Review | Austerity U.K. Edition, Part 2
The New York Times’ Paul Krugman has a series of charts today that are supposed to show that austerity has failed in Britain. The charts show that economic growth in the country has diverged from what one would expect it to be (because we know how accurate economic forecasts and projections often are).
