“President Obama is calling for more government reform after JPMorgan’s $2 billion loss. Really, is that what we need — the government stepping in? You know what’s going to happen? The government’s going to teach them how to lose $2 billion a DAY!” –Jay Leno

The world shifts uneasily in its chair as world leaders prepare for a new round of Greek elections on June 17, which could mean an unprecedented exit of Greece from the euro zone.

A roundup of this morning’s must-read budget and economic stories.

Yesterday the Senate voted on five budget resolutions, but none received enough votes to even be considered for debate.

According to The New York Times, California, which is projected to run a $16 billion deficit in 2012, has joined more than a dozen states in using money awarded for foreclosure prevention, investigations of financial fraud, and blunting the effects of the housing crisis to fill budget gaps instead.