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

The Washington Post reports the U.S. economy has grown at a slower rate in the first quarter despite stronger consumer spending.

The Wall Street Journal says U.S. companies are adding jobs, but those jobs are mostly overseas.

According to Politico, in the fight over the next farm bill, lawmakers are split along regional lines, not partisan ones.

Bloomberg says the head of the U.S. Postal Service is pushing hard for reform legislation.

The Hill reports the Obama Administration is dropping proposed rules to limit the time young people can work on farms.

According to The Financial Times, S&P has downgraded Spain’s debt.

On the opinion page: Allan Sloan says it’s time to fix Social Security.