B.A. Spending Daily

News Roundup | July 21, 2011

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

According to Politico, Reuters, The Wall Street Journal, The Washington Post and The Washington Times, President Obama is open to a short-term increase in the debt ceiling if lawmakers need more time to negotiate a longer-term plan that also includes deficit reduction measures.

The New York Times and Politico report on the private negotiations President Obama had Wednesday with lawmakers.

Bloomberg and Politico say the “Gang of Six” deficit reduction plan is picking up support. The Wall Street Journal and The Washington Post examine the package further.

Reuters looks at the preparations the Federal Reserve is making in case Congress does not raise the debt ceiling and the U.S. defaults. The New York Times says Wall Street is also making preparations.

The Washington Post says the Defense Department is preparing to have its budget cut.

On opinion pages: Fred Barnes argues spending cuts were key to getting Canada’s economy back on track; John Taylor argues Washington needs to intervene less in the economy; and Larry Kudlow reviews the “Gang of Six” deficit reduction plan.

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