Links: 2013-02-11

News Links for 11 February 2013
[ismember]Fiscal policy and the (delayed?) federal-state divergence | FT Alphaville
"The contribution of federal fiscal policy in the recovery, on the other hand, ran ahead of the prior recessions’ average for a while, helped especially by the stimulus funds (the overall effect would be even more noticeable if tax cuts and transfers were included in the charts). But it later turned negative, and the problem has been exacerbated this year by the fiscal cliff agreement, most notably including the terrible idea of allowing the payroll tax cut to expire.
Unfortunately, unless avoided, the sequestration cuts that are set to take effect in March would also affect state governments through the various avenues we discussed earlier — and perhaps keep them alongsid...


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