Budget and economic news roundup

February 8, 2011

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

US News and World Report says the long-time conservative goal of a balanced budget amendment to the Constitution is seeing a strong resurrection in Congress and even gaining support from a few Democrats.

The New York Times says the end of earmarks means the end of projects for local governments and non-profits across the country. But according to The Hill, lawmakers will find ways around the ban for military spending.

The New York Times and Bloomberg report that while Democrats criticize the GOP’s spending cuts as far too drastic, some Republicans argue they are not going far enough.

In an op-ed in The Financial Times, House Committee on Oversight and Government Reform Chairman Darrell Issa (R-CA) argues the failure of the stimulus package further discredits the Keynesian doctrine of spending your way to prosperity. Issa wants to ensure government does not make the same mistake again.

Politico decodes Obama’s address to the U.S. Chamber of Commerce. While the president tried to better the Administration’s relationship with the business community, according to The Wall Street Journal, bipartisan support for a tax overhaul is disappearing.

Politico reviews the intense pressure on Obama to articulate a budget strategy for himself and his party; The New York Times looks into the likely “investments” in his FY2012 budget.

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