News
National Journal | There's New Hope for a Grand Bargain
Amid the hot air in Washington comes the whiff of compromise.
Bloomberg | Obama-Republican Budget Battle Isn’t Only Taxes and Cuts
The wrangling of President Barack Obama and congressional Republicans over the federal budget underscores a clash of core philosophies about how the economy works that supersedes any skirmish on taxes or spending cuts.
CNBC | Why the US Could Face Another Brush With Default
With the Dow Jones reaching an all-time high and the S&P 500 not far behind, markets have shrugged off the disappointment of the sequester. But Alastair Newton, senior political analyst at Nomura says that far bigger hurdles lie ahead that could potentially give the U.S. another "brush with default".
Econ Comments & Analysis
Market Watch | Lew upbeat about prospects for budget deal
Treasury Secretary Jacob Lew said Thursday there were reasons to be optimistic about the recent flurry of talks between President Barack Obama and congressional Republicans on the budget.
Investors | Ryan Shows How To Balance The Budget Without Tax Hikes
Deficits: Rep. Paul Ryan's latest budget plan shows that we can balance the budget in just a decade without any new taxes and still increase spending if we get rid of the massive cost of ObamaCare.
Reason | In Reality, Debt Matters. It Matters a Lot
No worries, America. Debt is a preoccupation of the fringe, a mere distraction for anyone interested in progress. And anyway, as President Barack Obama explained this week, "we don't have an immediate crisis in terms of debt. In fact, for the next 10 years, it's going to be in a sustainable place."
AEI | A balanced budget isn't necessary, but entitlement reform is
The federal budget deficit should be sustainable given future growth and inflation expectations, not necessarily zero, much like there is no need for corporations to be financed with equity alone.
Blogs
WSJ | Americans’ Debt Payments Hit Three-Decade Low
U.S. households spent 10.4% of their after-tax income on debt payments in the final three months of 2012 compared with 10.6% a quarter earlier, the 15th straight decrease and the lowest level since government tracking started in 1980, according to recently released Federal Reserve figures. Families’ debt obligations are well below their average since 1980 of 11.9%. If you include other payments that aren’t classified as debt — like rent and auto leases — the figure rises to 15.5%, but that’s still the lowest since 1981.
