Budget and economic news roundup

News Roundup | March 17, 2011

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

According to The Associated Press and Reuters the Senate will pass the three-week continuing resolution (CR) today. The CR, which the House passed earlier this week, will keep the government funded through April 8.

According to The Hill the House will vote today on a bill to cut federal funding from National Public Radio.

The Wall Street Journal takes a look at the deficit plan being crafted by the so-called “Gang of Six.”

The Weekly Standard says the U.S. has reached the point at which spending on mandatory programs like Social Security and Medicare has exceeded the total amount of receipts the federal government takes in each year.

Politico reports 22 Republican senators sent a letter to President Obama saying they are prepared to vote against an increase in the debt limit unless the White House considers some reforms to mandatory programs.

Meanwhile Senate Majority Harry Reid (D-NV) says lawmakers shouldn’t touch Social Security.

Reuters reports Senate Republicans are also putting together a plan for a balanced budget amendment to the U.S. Constitution.

The New York Times says lawmakers have found a way around their earmark ban while The HIll reports members of Congress aren’t saying no to constituents’ requests.

According to The Wall Street Journal the chairman of the House Ways and Means committee has a tax reform plan that would lower the top income tax rate to 25 percent.


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