News
Roll Call | Obama's Budget Is Running Late
The Obama administration’s fiscal 2014 budget is widely expected to arrive late on Capitol Hill, possibly not until sometime in March, primarily as a result of uncertainty created by fiscal cliff negotiations.
Econ Comments & Analysis
Daily Caller | Balance may be good politics, but it’s bad economics
Despite the unprecedented explosion of the federal debt during his first four years in office, President Obama acknowledges that something must be done to halt deficit spending.
Politico | Trillion dollar coin: Funny money or real solution?
Democrats aren’t writing off suggestions that President Barack Obama skip another round of negotiations with congressional Republicans and simply raise the debt ceiling himself.
CNN Money | The euro crisis no one is talking about: France is in free fall
The euro zone's second-largest economy is suffering more than any other member from a shocking deterioration in competitiveness. And it's doing nothing to stop it.
Forbes | The Lopsided Fiscal Cliff Deal: All Tax Hikes, No Spending Restraint
Throughout the 2012 presidential campaign, and up until New Year’s Eve, President Barack Obama kept insisting that any solution to the U.S. “fiscal cliff” required what he called a “balanced approach” — meaning that forthcoming federal budget deficits should be narrowed partly by tax hikes (on “millionaires and billionaires”) and partly by spending restraints. Of course, we all know that Mr. Obama and the Democrats wanted only tax hikes, while the Republicans mainly wanted only spending restraint.
CBO | Monthly Budget Review
The federal budget deficit was $293 billion for the first three months of fiscal year 2013 (that is, October through December 2012), $29 billion less than the shortfall recorded in the first quarter of last fiscal year, CBO estimates. Without shifts in the timing of certain payments in both years, however, the deficit for the three-month period would have been about $60 billion lower this year than in fiscal year 2012.
Blogs
WSJ | Fed’s Lacker Warns of Damage Over Debt Ceiling Debate
Federal Reserve Bank of Richmond President Jeffrey Lacker said Tuesday that it would be damaging to the economy if it starts to look like Congress won’t raise the debt limit before the Treasury runs out of room to borrow.
