B.A. Spending Daily

News Roundup | October 18, 2011

Here’s a roundup of this morning’s must-read budget and economic stories:

The Wall Street Journal is surprised that as Washington recorded its biggest spending year ever and its second largest deficit, no one seems to be talking about it. Meanwhile, the New York Times and Wall Street Journal report on Rep. Ron Paul’s plan to cut $1 trillion from the budget in one year.

The USA Today, Los Angeles Times, and Washington Times cover the beginning of the President’s bus tour to promote his jobs bill.  The Wall Street Journal says Senate Democrats are pushing a piece of the jobs bill that would send money to state and local governments. Roll Call says Senate action on this piece could complicate consideration of three key spending bills.

Europe’s troubles continue. According to Reuters, Moody’s has warned it could give a negative outlook to France’s sterling Aaa rating.

Roll Call reports that even while rules on gifts for lawmakers and officials grow stricter, being in Congress or holding a top post still comes with plenty of perks everyday Americans aren’t privy to.

The New York Times reveals that the $5 billion in direct payments to farmers – a controversial piece of farm subsidies – could simply be replaced by another costly subsidy.

The Hill reports Congressional Republicans are calling for the repeal of a major piece of the President’s healthcare reform law, the CLASS Act, as the Washington Times says the Administration is fighting to keep it.

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