News
CNN Money | Detroit is broke. Who's going to pay?
Is Detroit truly bankrupt? It seems like an easy question to answer, given that it has $18 billion worth of liabilities and little in the way of cash to pay them.
Econ Comments & Analysis
CRS | The Federal Budget: Issues for FY2014 and Beyond
The federal budget is central to Congress's ability to exercise its "power of the purse." Recent economic turmoil put strain on the federal budget due to declining revenues and increasing spending levels. Subsequently, policies enacted to restrain spending, along with an improving economy, have put the federal budget on a more sustainable path in the near term.
Mercatus | Can We Grow Our Way Out of Debt?
The United States has both a debt and deficit problem, driven by years of overspending and unfunded promises made by politicians of both parties to pay for health care and retirement benefits to current and future seniors.
CATO | Cut Spending by … Cutting Spending
House and Senate budget conferees have begun meeting in an attempt to head off another potential government shutdown when the latest continuing resolution expires, on January 15. In theory, the committee is supposed to report no later than December 13, but few on Capitol Hill expect them to come up with a deal by that deadline. As usual, the two parties are at loggerheads over taxes and spending. The Democrats want more of the former and none of the latter; for Republicans, it’s the reverse. Another crisis looms.
