B.A. Spending Daily

News Roundup | May 16, 2012

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

The Associated Press reports foreign holdings of U.S. debt are at an all-time high.

Despite a current ban on the practice, Politico reports lawmakers are still pushing for earmarks.

The Associated Press says the White House has threatened to veto the House FY 2013 defense appropriations bill since spending in it exceeds what was agreed to in last summer’s budget deal.

House Speaker John Boehner said Republicans would block any debt ceiling increase that  is not accompanied by spending cuts. Bloomberg,The HillThe New York TimesPoliticoReuters, The Washington Post have the story.

According to The Hill, Speaker Boehner is also pushing for quick action on tax legislation. Meanwhile, according to Politico, former President Bill Clinton is advising lawmakers raise taxes across the board.

The Hill and The Washington Free Beacon says the Senate is poised to reject several different budget outlines on Wednesday. According to Politico, some moderates are frustrated with the Senate’s inability to pass a budget.  

The Hill, Politico and The Washington Post report the Senate has passed a House-supported bill to reauthorize the Export-Import Bank.

According to The New York Times, states are using funds from the housing settlement with banks to plug their budget gaps. Also on housing, Bloomberg says Fannie Mae and Freddie Mac may soon be allowed to forgive homeowners’ debts.

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