News
CNN Money | Europe: No retreat from austerity
The message was unmistakable: The austerity push that has dominated Europe in the past year will continue even as the economy struggles.
CNN Money | How realistic is a balanced budget in 10 years?
House Republicans have put aside the debt ceiling as leverage in their fight for spending cuts. Now their goal is to balance the federal budget in 10 years.
Econ Comments & Analysis
Market Watch | Near-term debt-limit risks to U.S. AAA fade: Fitch
The temporary suspension of the U.S. federal government's debt limit removes the near-term risk to the country's AAA rating, Fitch Ratings said Monday.
WSJ | The Case for Across-the-Board Spending Cuts
You know the cliché: America's fiscal condition might be grim, but lawmakers should avoid the "meat ax" of across-the-board spending cuts and instead use the "scalpel" of targeted reductions. The problem with this argument is that, given today's politics, it is nonsensical.
Politico | Budget's not high on Dems' to-do list
‘Show me your budget, and I will tell you what you value.” That’s what Joe Biden said last summer, and he meant it as a criticism of Republicans. The vice president’s comment raises a question: Where are the Democrats’ values? They’re in hiding, judging from their unwillingness to present any budget plans for almost four years.
Mercatus | The Debt Ceiling: Assets Available to Prevent Default
The debt ceiling, or the legal limit the federal government may borrow, is set currently at $16.4 trillion.[1] In his latest report, Secretary of the Treasury Timothy Geithner predicts that the United States will need to increase the debt ceiling sometime between February 15, 2013, and early March 2013.
Blogs
CATO | The Sequester May Not Be ‘Fair,’ but It’s Real and It Would Slow the Growth of Government
Much to the horror of various interest groups, it appears that there will be a “sequester” on March 1. This means an automatic reduction in spending authority for selected programs (interest payments are exempt, as are most entitlement outlays).
