Budget and economic news roundup
Here’s a roundup of this morning’s must-read budget and economic stories:
According to the Treasury Department, the federal deficit for the month of February was $222.5 billion – a new record.
Today President Obama is expected to formally launch his plan to reorganize some federal agencies. The Washington Post has the details.
According to The Hill, The New York Times, Politico, Reuters and The Wall Street Journal House Republicans are preparing a three-week continuing resolution (CR) that would cut $6 billion from current spending levels. The CR would keep the government funded through early April.
On Thursday, the House approved a bill cutting two housing assistance programs. Lawmakers say the measure will save taxpayers $8.1 billion
According to The Hill, the Congressional Budget Office yesterday released a list of cost-cutting measures for federal health care programs. (On a related note, The Washington Post says Republicans will consider health care cuts in their fiscal year 2012 budget – expected for release in early April.)
The New York Times examines plans to cut spending for Head Start.
The New York Times also takes a look at the growing burden of state pension systems.
According to The Wall Street Journal American families’ debt burdens are at their lowest point in six years.