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Thursday, November 15, 2012

Budget

News                                                                                                                             
WSJ | President's Deficit Plan Casts a Wide Net for Revenue
President Barack Obama's proposal to reduce the deficit by $1.561 trillion over the next decade includes more than 70 changes in the tax code that would affect everyone from high-income Americans to options traders, as well as oil and gas companies, and even some golf courses.

Econ Comments & Analysis                                                                                            
Bloomberg | My Name Is Uncle Sam, and I’m a Debt-aholic
Fix the debt. It’s a lot harder than it sounds. Earlier this year, a group of longtime deficit hawks came together to try to accomplish what has eluded their predecessors for so long.

Blogs                                                                                                                             
National Review | A Few Reminders About the President’s ‘Balanced Approach’
There are a few problems with the president’s approach. First, it is true that he has been reelected to the White House, but I think he would be wrong to assume that last week’s elections was a referendum on his budget ideas and his balanced approach. 
Coordination Problem | We Will Not Fall Off the Fiscal Cliff, But Perhaps We Should!
The probability that tough fiscal decisions will be made this time around is very low.  Instead, politics as the art of compromise will prevail and the "fiscal granade" will simply be kicked down the road.