B.A. Spending Daily

News Roundup | June 1, 2011

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

On Tuesday, the House voted against a stand-alone measure to raise the federal statutory debt limit. The Los Angeles Times, The New York Times, Politico, The Wall Street Journal, The Washington Post and The Washington Times have the details. The Hill analyzes how Wall Street is reacting to the vote.

According to The Hill and Roll Call, House Minority Whip Steny Hoyer (D-MD) urged his caucus to vote against the debt limit because it didn’t include corresponding spending cuts. Meanwhile, according to The New York Times, Reuters and Roll Call, House Speaker John Boehner (R-OH) has released a letter from 150 economists supporting the Republican caucus’s stance on the debt limit.

Two Democratic Senators have said lawmakers shouldn’t get their salaries if they don’t pass a debt limit increase.

Politico takes a look at the various budget debates and negotiations that will continue over the next several months.

The Hill examines how much lawmakers want to spend on defense in fiscal year 2012.

The Wall Street Journal says economists are downgrading their economic growth estimates for the second half of 2011. In other economic news, housing prices dipped in the first quarter of this year.

On the opinion pages: David Malpass outlines the type of debate Congress should have about the debt limit; Steven Malanga looks at how taxpayer subsidies are fueling the NFL labor dispute; and Arpana Mathur discusses the need for corporate tax reform.


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