Success! Well, kind of.

It looks like House leaders, Senate leaders, and the White House have struck a deal on raising the debt limit. According to a presentation created by Speaker of the House John Boehner, it will initially cut $917 billion from the budget over 10 years in return for raising the debt ceiling by $900 billion, and requires Congress to find more cuts before it can be raised by another $1.5 trillion.  It also requires a vote on a Balanced Budget Amendment to the Constitution by the end of the year.  And it doesn’t include any tax increases.| MORE ›

In a video message released today, Ohio Governor John Kasich explains how he fixed his state’s budget. It’s a must watch video for all those interested in fixing the current economic / debt mess in DC.

Believe it or not, Gov. Kasich actually – pay attention big spenders in DC! - balanced it.

“We took on the largest budget short fall in Ohio’s history,” Kasich says. And that’s not all:| MORE ›

The following article from Business Week offers a good review of most of the main themes of the Turkish economy and its prospects in the event of a Turkish invasion of northern Iraq.

The article finishes on a positive note with a comment by the AKP appointed treasury minister and former Merrill Lynch economist, Mehmet Simsek.| MORE ›

Most economic conservatives are understandably criticizing Speaker of the House John Boehner for reportedly compromising on the budget by either agreeing to some increases in revenue, or worse, agreeing to repeal the Bush tax cuts (although now it appears he’s walked back from this).

I hold a slightly different opinion that he might be on the right track, depending on the details.| MORE ›