B.A. Spending Daily
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Here’s a roundup of this morning’s must-read budget and economic stories:
According to Politico, Federal Reserve Chairman Ben Bernanke called on lawmakers to agree on a plan to reduce the budget deficit in a press conference yesterday. In a separate story, Politico says the Fed Chairman is not impressed with the cuts Congress has made so far.
According to The Wall Street Journal, in order to force a vote on Medicare, Senate Majority Leader Harry Reid (D-NV) may be bring the House budget resolution to a vote in the Senate soon. Politico has more on this story.
Politico has an update on “Gang of Six” deficit reduction negotiations.
Reuters says Senate Majority Leader Reid told reporters yesterday he doesn’t believe there should be preconditions set on the upcoming debt limit vote.
CNBC says U.S. banks are increasing their pressure on Congress to increase the statutory debt limit.
The New York Times says Chrysler will pay back the bailout money it received from the federal government.
On the opinion pages: John Cochrane looks at the consequences of high U.S. debt levels; Diana Furchgott-Roth wants to end the ethanol subsidy; Jeff Reeves says inflation is out there, and looks at nine sectors where it’s obvious; and Louis Woodhill examines Greece’s debt problems.