B.A. Spending Daily

News Roundup | June 13, 2012

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

According to Bloomberg, at least one CEO believes the U.S. needs more certainty about tax and budget policy to help the economy, not more stimulus.

The federal budget deficit is on pace to hit $1 trillion again this year. The Associated Press has the story.

Bloomberg says the ban on earmarks hasn’t meant an end to pork, it’s only caused lawmakers to get “creative.”

According to The Washington Free Beacon, the government spends more than $1 billion a year to provide free cell phones to some Americans.

The Washington Post reports the Senate Armed Services Chair wants the Defense Department to cut $10 billion a year over the next 10 years. Reuters reports on efforts to stop defense spending cuts.

The Washington Examiner says health care costs will rise in the coming years due to the 2010 health care reform law.

Politico and Roll Call believe the farm bill as a difficult road to passage.

According to The Wall Street Journal, interest rates are starting to rise across Europe as concerns over the financial crisis build. The New York Times says investors are particularly worried about Italy.

The Washington Post says Europe is considering more fiscal stimulus.

Spain’s prime minister is defending the bailout for his country’s banks. The Wall Street Journal has the story. According to The New York Times, Spanish taxpayers are on the hook for the bailout.

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