Here’s a roundup of this morning’s must-read budget and economic stories:
USA Today reports President Obama’s cabinet will meet today to discuss eliminating improper payments in federal government programs.
According to Bloomberg, most Americans think the country is on the wrong track while The Wall Street Journal and The Washington Post report incomes for families are down again while poverty is up.
The Financial Times and The New York Times say the President is looking to make cuts to Medicare and Medicaid.
According to CNN and The Washington Times, Office of Management and Budget Director Jack Lew said the debt super-committee must come up with a compromise to cut $1.2 trillion in federal spending by early November.
Politico says the House Speaker wants the super-committee to make more than $1.2 trillion in cuts.
The New York Times looks at President Obama’s plan to create jobs by modernizing schools. The Hill and The Wall Street Journal say the President would pay for his jobs plan in part by raising taxes on the wealthy.
Politico and The Washington Post report that the Senate Appropriations Defense Subcommittee has voted to freeze defense spending.
The Hill discusses how a controversy over a federal loan guarantee for a bankrupt start-up will affect funding for clean energy. The Washington Post explores the controversy further.
On the opinion pages: The Wall Street Journal says businesses should prepare for tax increases in 2013 and Alex Brill suggests the debt super-committee concentrate on tax reform.