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

In the absence of any progress from the supercommittee, Erskine Bowles produced his own plan that would reduce the deficit by $2.6 trillion over 10 years.

That the debt ceiling discussions have not yet yielded any substantive plan to address the debt limit or our yawning deficit has fueled concern that uncertainty could lead to an increase an interest rates.

Today, Fitch Ratings warned it would consider downgrading the United States’ debt rating if Congress is unable to reach an agreement on the limit by the Treasury Department’s deadline.

A roundup of this morning’s must-read stories related to the President’s budget.

The President’s budget proposal will show a very serious path of deficit reduction, White House Office of Management and Budget Director Jack Lew said in an interview.

“Because of a printing error, a billion new $100 bills have to be destroyed. They’re going to burn $100 billion dollars — just like they did with the last stimulus program.” – Jay Leno

A quick look at the three most popular posts from last week.

Pass or fail, the Commission’s report is an historic step toward critical reform.

The Administration’s “Fiscal Commission” will today vote on the proposal released December 1.