B.A. Spending Daily

News Roundup | June 8, 2012

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

Reuters says at least one credit rating agency is considering another downgrade of the U.S.’s credit rating if lawmakers fail to come up with a credible plan to tackle the deficit.

According to Sen. Tom Coburn (R-OK), the federal government has $70 billion in funds that have been appropriated, but are just sitting around, waiting to be spent. Roll Call has the story.

The House yesterday voted to repeal the tax on medical device manufacturers that was included in the 2010 health care bill. The Pittsburgh Post-Gazette has the news.

According to The Hill and Roll Call, Senate Majority Leader Harry Reid (D-NV) has offered a new compromise on a bill to reduce student loan interest rates.

Politico reports the farm bill reauthorization has picked up some White House support.

The Washington Post looks at efforts to rein in government pay and benefits.

The Hill says Democrats are still trying to decide their position on extending the 2001 and 2003 tax cuts.

Bloomberg reports Spain’s credit rating has been downgraded. In the wake of the downgrade, The New York Times and Reuters say other European countries are ready to act to help solve the continent’s financial problems.

The Washington Post examines how Europe’s problems are affecting U.S. businesses.

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