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Wednesday, November 21, 2012

Budget

News                                                                                                                             
CNN Money | Deficit reduction? Not without entitlement reform
As the fiscal cliff nears, the question remains whether policy makers will meaningfully address the biggest drivers of the national debt: Medicare, Social Security and Medicaid.
Market Watch | Bernanke presses lawmakers to resolve fiscal cliff
Federal Reserve Chairman Ben Bernanke was in New York City Tuesday to send a message back to Washington: Cut a deal to avoid the fiscal cliff, and don’t play politics with the federal debt limit again.
WSJ | Most Households Face 'Fiscal Cliff'
Almost all American households would take a financial blow next year—and low-income families would be among the hardest hit—if the White House and Congress fail to solve the "fiscal cliff" of big tax increases and spending cuts set to start Jan 2.
Bloomberg | Europe Fails to Seal Greek Debt-Cut Deal in IMF Clash
European policy makers head into their second confrontation this week saying they’re likely to fall short of agreement on a seven-year budget plan just as they failed to strike a deal on Greek debt.

Econ Comments & Analysis                                                                                            
Washington Times | Stuck on the fiscal cliff
As fiscal cliff negotiations between Congress and the White House start in earnest this week, conservatives are under pressure to stay true to their principles.
CATO | Misreading the Fiscal Cliff
The fiscal cliff is now less than six weeks away. Negotiators are reportedly locked away behind closed doors working on a grand bargain to avoid the tax hikes and spending cuts that will hit on January 1.