B.A. Spending Daily

News Roundup | December 5, 2012

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

The Wall Street Journal editorial board explains what Washington lawmakers really mean when they say they are cutting spending. (Here’s a hint: they don’t really mean a decline in spending.)

According to Reuters, President Obama prefers to raise the debt ceiling without any “drama.”

The Associated Press and Politico look at the very public, and the private, negotiations over the fiscal cliff.

Bloomberg says the president is “hardening” his stance in favor of tax increases.

Meanwhile, The Hill reports Republicans might be softening their stance on tax increases.   (A story by the Financial Times seems to disagree.)

The Hill reports some business leaders are worried about the effect tax increases will have on senior citizens in particular.

The Hill also says President Obama might be open to some changes to entitlement programs. The Wall Street Journal reports the House minority whip also said entitlement are on the fiscal cliff negotiating table.

According to The Associated Press, more defense spending cuts could soon be coming. The Wall Street Journal says some for military officials have even urged more cuts.

Meanwhile, Reuters reports the Senate has passed a bill authorizing $631.4 billion in defense spending for FY 2013.

Politico says lawmakers are making progress on the farm bill.

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