News
National Journal | Are We Sequestering Ourselves to Death?
Congress's year-end budget deal would blunt spending cuts scheduled to hit the federal government's premier medical research board, but that's cold comfort to advocates who insist the sequester spending cuts are already putting the public in peril.
Bloomberg | Budget Deal Easing $63 Billion in Cuts Advances in Senate
The Senate advanced a budget deal that would ease $63 billion in spending cuts for a vote as soon as tomorrow, setting the stage for President Barack Obama to sign the bipartisan measure into law.
National Journal | The Budget Deal That Stole Christmas
While much of Capitol Hill is getting ready for the holiday break, those who work on the Appropriations committees have a different vision for the days ahead—and it ain’t sugar plums.
Market Watch | U.S. current-account gap falls to $94.8 billion
The U.S. current account deficit narrowed to $94.8 billion in the third quarter, marking the lowest level since the fall of 2009, the government said Tuesday.
Econ Comments & Analysis
WSJ | The Debt Ceiling Doesn't Limit Debt
The budget deal announced last week authorizes federal spending for the current fiscal year that will exceed general tax revenues available to pay for it by almost 40%. Congress has raised the debt ceiling to cover all spending through Feb. 7, after which it will consider raising it again.
Blogs
Heritage Foundation | Spending Caps Have Worked, but Ryan-Murray Budget Would Lift Them
In terms of cutting government spending, the Budget Control Act’s spending caps and sequestration have been an unparalleled success story in recent years. And yet, the House of Representatives voted last Thursday to weaken the caps in 2014 and 2015 for a $63 billion increase in the discretionary budget.
