B.A. Spending Daily

News Roundup | August 3, 2012

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

According to The Wall Street Journal, the economy added 163,000 jobs last month, but the unemployment rate ticked up .1% to 8.3% overall.

The Associated Press and The New York Times say lawmakers are leaving for August recess with a lot left undone.

The Hill reports a bipartisan group of lawmakers will unveil a new deficit reduction plan the day after the November elections.

Bloomberg says the Internal Revenue Service could lose up to $21 billion over the next five years due to identity theft.

According to emails, executive branch officials were warned that a federal loan to Solyndra was a bad bet for taxpayers. ABC News,The Associated Pressand Bloomberghave the story.

Politico says some lawmakers believe it could take up to a year to negotiate tax reform.

Reuters looks at how pension debt bankrupt one California town.

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