News
National Journal | On Budget Conference Committee, Even Small Proposals Generate Arguments
Both Republicans and Democrats on the budget conference committee agree that if the panel reaches an agreement at all, it is likely to be a small one. And so far, they're not kidding.
Econ Comments & Analysis
Real Clear Markets | Why the Next Debt Limit Fight Could Convulse the Markets
Congress's latest flirtation with debt-limit default caused barely a ripple in the financial markets. Rates on short-term Treasuries spiked in early October, before quickly subsiding to more normal levels. The spread between one- and three-year Treasuries temporarily widened, but quickly fell back to a more normal trend. All told, financial markets barely blinked. Unfortunately, the next time may be worse. Here's why.
