B.A. Spending Daily
Here’s a roundup of this morning’s must-read budget and economic stories:
The Associated Press looks at how Congress will deal with the need to raise the debt ceiling.
The Wall Street Journal examines ways the U.S. Treasury Department can temporarily avoid hitting the statutory debt limit.
The Associated Press reports some analysts believe the U.S. economy could sustain a “brief” fall off the fiscal cliff. Meanwhile, Politico says 180 economists have signed a letter warning against tax increases.
CNN, Reuters, Roll Call and The Washington Post have an update on fiscal cliff negotiations between President Obama and Speaker Boehner. (According to The Hill, the president is “confident” a deal will come together.)
The Associated Press says broader negotiations appear to be stalled.
One point of contention: whether to count cuts promised in last year’s budget deal as part of the fiscal cliff bottom line. Politico has the story.
The Washington Post says President Obama would be willing to look at “tough” issues on the spending side – after Republicans agree to tax increases.
The Wall Street Journal reports the White House has offered to make corporate tax reform part of the discussion on the fiscal cliff.
According to Politico, some members of the Republican party are willing to agree to defense spending cuts.
The Associated Press says Democrats are unwilling to touch Medicaid as part of a fiscal cliff deal.
USA Today looks at Democrats’ opposition to entitlement cuts more broadly.