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

Politico says lawmakers are trying to reach a deal to keep automatic defense spending cuts, set to start in January, from taking effect.

According to The Associated Press, Germany’s finance minister has told the U.S. it should focus on its own debt problems.

The Financial Times says Spain will formally seek a bailout from the EU this week.

On the opinion pages: The Wall Street Journal says Congress must reform the National Flood Insurance Program.