Tuesday, July 29, 2014


National Journal | The Geography of Debt in the U.S.
Five years after the Great Recession officially ended, Americans across the country are still swimming in debt. The amount and nature of that indebtedness, however, differs from state to state and region to region.
FOX Business | Treasury: Social Security Broadly Funded Until 2033
Slower growth in healthcare spending is shoring up the funding outlook for the federal Medicare program that covers the hospital bills of the elderly, trustees of the program said on Monday.

Econ Comments & Analysis                                                                                            
Real Clear Markets | The Danger of Deficits To Our Economy
Recently the White House Office of Management and Budget released its Midsession Review, an update and review of the budget that President Obama submitted to Congress. The document extols the virtues of the administration's economic policies, noting that a combination of economic growth, discretionary budget cuts and the reversal of the Bush tax cuts has halved the federal deficit.
CATO | Keep Chopping Federal Spending
President Obama is not doing enough to rein in spending and deficits. He says the deficit has been cut in half since he came to office. But that is a cut from the giant 2009 figure of $1.4 trillion, which was so high partly because of his costly stimulus bill.

CBO | The Uncertainty of Long-Term Budget Projections
Budget projections are inherently uncertain. CBO’s projections in The 2014 Long-Term Budget Outlook generally reflect current law and estimates of future economic conditions and demographic trends (those projections are called CBO’s “extended baseline”). If future spending and tax policies differ from what is prescribed in current law, budgetary outcomes will differ from CBO’s extended baseline, as discussed in a blog post last week.