Here’s a roundup of this morning’s must-read budget and economic stories:
Bloomberg, CNN, Politico, Reuters and The Wall Street Journal report the House and Senate could vote today on extending jobless benefits and the 2011 payroll tax cut. The Federal Eye blog and The New York TImes look at how Congress’s is paying for the bill.
According to The Washington Times, the Congressional Budget Office believes unemployment benefits can contribute to joblessness. USA Today says the CBO also believes unemployment will remain above 8 percent until at least 2014.
The Washington Post says the Pentagon is fighting against automatic defense spending cuts that are supposed to start in 2013.
The Hill reports Treasury Secretary Timothy Geithner said the Obama Administration didn’t embrace the Bowles-Simpson commission’s recommendations because the cuts outlined for defense and Social Security were too deep.
The New York Times outlines the White House’s strategy for implementing “the Buffet rule.”
The Financial Times says U.S. taxpayers will end up subsidizing the recent mortgage deal between U.S. banks and distressed homeowners.
The Economist asks whether America is over-regulated.
Read Entire Story: Bankrupting America