B.A. Spending Daily

News Roundup | August 3, 2011

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

Yesterday the Senate passed and President Obama signed the final plan to raise the statutory debt limit and cut spending over the next 10 years. The Hill, The New York Times, Politico, The Wall Street Journal, The Washington Post have the details.

Bloomberg says the debt limit deal left the most pressing problems for the fiscal commission it created. The New York Times points out that, even with the spending cuts in the debt limit deal, the national debt will be higher in 10 years because it did not tackle some tough issues.

The Hill looks at budget battles yet to come.

According to Politico, Fitch Ratings is no longer likely to cut the U.S. debt rating.

Bloomberg says the Chinese and Russian governments believe the U.S. is borrowing too much money.

On the opinion pages: Treasury Secretary Timothy Geithner looks at what’s next for policymakers and Richard Remult says the U.S. does not need any more stimulus.

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