* Editorial: Budget ax falls, but not on state prisons (Sacramento Bee)
California lawmakers made major spending cuts to help fill budget holes for the current year and for 2009-10. But one area of the budget was conspicuously spared: the prison system.
* Printing money: Has Mervyn King turned into Paul Daniels? (Alistair Osborne., Telegraph)
Quantitative Easing is not a required trick for membership of the Magic Circle. But maybe it will be, once Alistair Darling and Mervyn King have perfected conjuring money out of thin air.
* Printing money: an easy guide to quantitative easing (Telegraph)
Interest rates are now as close as they can get to zero without causing malfunctions in the financial system.
From US News & World Report. Here we go again:
I love it when politicians break out of their traditional policy boxes and do something suprising, novel. Here is how the WaPo describes President Obama’s first budgt: “President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spendin…
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