B.A. Spending Daily

News Roundup | June 14, 2011

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

The Hill reports the Senate will vote today on a bill repealing subsidies for ethanol.

On Monday the White House announced a new initiative aimed at cutting government waste. The Wall Street Journal and The Washington Post have the details.

The Associated Press, Politico and The Wall Street Journal update readers on the status of deficit reduction negotiations led by Vice President Biden. (The next discussion is set for today.) Reuters says difficult economic news is complicating the talks.

Bloomberg, Financial Times, Reuters and The Wall Street Journal report that Standard & Poor’s has cut Greece’s debt rating to the lowest in the world. According to The Hill, some senators don’t want U.S. taxpayer funds going to bail out Greece.

According to CNBC, some commentators think the U.S. is worse fiscal shape than Greece.

Politico reports that President Obama wants to extend the one-year payroll tax cut passed last year by Congress and set to expire Dec. 31.

The Wall Street Journal says inflation is an increasing worry for U.S. investors while Bloomberg reports inflation is becoming a problem in China.


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