Budget and economic news roundup

March 10, 2011

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

The Senate voted down two competing continuing resolutions (CRs) on Wednesday; one based off of the House version and one offered by Senate Democrats. The Associated Press, The Hill, The New York Times, Politico and The Washington Times have the details.

According to Reuters, President Obama will veto the House version of the CR if it crosses his desk. Meanwhile, Politico says the White House is struggling to lead on budget negotiations.

According to Bloomberg, Moody’s has cut Spain’s debt rating. Reuters says Moody’s is worried about Spain’s “ability to achieve structural improvement in its finances.”

The Wall Street Journal takes a look at a deficit reduction package gaining momentum in the Senate – a plan being driven by Senators calling themselves the “Gang of Six”

The Hill highlights yesterday’s House hearing on federal worker compensation.

Also on Wednesday, the House Financial Services Committee passed two pieces of legislation shutting down housing relief programs. The Hill has that story.

According to Politico, Sen. Claire McCaskill (D-MO) will pay taxpayers back for the $88,000 she used for chartered flights.

The New York Times examines the GOP’s jobs agenda.

On the opinion pages: David Primo says lawmakers are afraid to make the tough choices needed to cut the budget deficit; Jacob Sullum says Democrats are not taking the debt seriously; and Michael Barone advises NPR to willingly accept defunding.


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