B.A. Spending Daily
Here’s a roundup of this morning’s must-read budget and economic stories:
The New York Times says lawmakers participating in budget deficit negotiations led by Vice President Biden still have a lot of tough issues to tackle. CNNMoney and the Financial Times conclude it will be difficult for the group to meet its self-imposed July 1 deadline on a deal to raise the statutory debt limit.
The Hill says Medicare and Medicaid will be topics of this week’s deficit reduction discussions.
In a separate story, The Hill looks at lawmakers’ concerns about rising interest rates.
According to Reuters, the IMF believes the U.S. is “playing with fire” with the size of its budget deficit.
The Boston Globe reports that small U.S. banks that received money from the U.S. Treasury’s Troubled Asset Relief Program (TARP) are paying it back by borrowing from other government programs.
Reuters says the European Union has delayed lending Greece any further money until the country can show progress on cutting spending.
On the opinion pages: Michael Boskin lays out his ideas for deficit reduction.