News
Politico | Democrats ask: What debt crisis?
The two parties are miles apart on how to cut the deficit and national debt: Republicans want to slash spending even more. Democrats want to raise revenue.
National Journal | A Playbook for Undoing the Sequester
When Congress voted last week to give the FAA more flexibility with its cuts, it set off a race among other special interests to push for exemptions.
Bloomberg | Market’s $20 Trillion Yielding 1% Shows Austerity Mistaken
At a time when politicians are squeezing budgets to cut borrowing, the bond market is clamoring for more debt, pushing yields on almost $20 trillion of government securities to less than 1 percent.
Econ Comments & Analysis
CNN Money | When will the debt ceiling need to be raised?
If you enjoy the spectacle of lawmakers fruitlessly fighting over the budget, then you're in luck. Congress is expected to have even more time to chase its tail this summer before it must do something concrete -- raise the country's legal debt limit.
Blogs
Library of Economics | Budget Cuts Seem to Work
Washington Post blogger Mike Konzcal writes that we now have a test of monetary vs. fiscal policy. According to him, fiscal policy won. That is, fiscal policy is more potent and monetary policy is impotent. In fact the very data he cites show the opposite.
