In the Water, In the Air: Monday, December 09, 2013.

FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION

Budget deal expected this week amounts to a cease-fire as sides move to avert a standoff (Lori Montgomery, The Washington Post, 12/08).

Analysis: U.S. budget deal could bring truce, minimize shutdown threats (David Lawder and Richard Cowan, Reuters, 12/08).

DEFICITS AND DEBT

Stanley Druckenmiller: An Unsustainable Financial Situation (RealClearPolitics, 12/09).

Why Congress Needs a New Budget Process (Patrick Louis Knudsen, The Heritage Foundation, 12/05).

POLITICAL STUDIES

Why Government Institutions Fail to Deliver on Their
Promises: The Public Choice Explanation (Veronique De Rugy, Mercatus Center -- George Mason University, 12/04).

ECONOMIC REPORTS

Heritage Employment Report: Slow Recovery Continues in November (James Sherk and Salim Furth, Ph.D., The Heritage Foundation, 12/06).

The Distribution of Household Income and Federal Taxes, 2010 (Congressional Budget Office, 12/04).

Curb Your Enthusiasm About An Improved Jobs Market (Louis Woodhill, RealClearMarkets, 12/09).

ECONOMICS 101

The Gospel According to JCPenney (Michale Gerson, RealClearPolitics, 12/10).

Are You Riding the Gravy Train? (Steve Tobak, Fox Business, 12/09).

SPENDING-SIDE REFORM

America’s clash of generations is inevitable (Robert J. Samuelson, The Washington Post, 12/08).

Making the poor — and the U.S. — poorer still (Robert E. Rubin, Roger C. Altman and Melissa Kearney, The Washington Post, 12/08).

Wage subsidies (Noah Smith, Noahpinion, 12/07).

The sequester really was a good idea (Tyler Cowen, Marginal Revolution, 12/09).

The Punishment Cure (Paul Krugman, The New York Times, 12/08).

The Facts Are In, More Government Means Less Growth (Jeffrey Dorfman, RealClearMarkets, 12/09).

By George, Britain’s Austerity Experiment Didn’t Work! (John Cassidy, The New Yorker, 12/07).

GOVERNMENT FINANCE AND FINANCIAL POLICY

Bank on it: The Fed is a friend (Michael ivanovitch, CNBC, 12/08).

The Fed’s scandalous monetary policy (Scott S. Powell, The Washington Times, 12/08).

Free Money! Then Free The Rest Of The Economy (Harry Binswanger, Forbes, 12/05).

GLOBAL ECONOMY

As Democracy Grows So Does Global Corruption (Patrick Smith, The Fiscal Times, 12/09).

Why the Trade Deal in Bali Was a Game-Changer (Daniel W. Drezner, Foreign Policy, 12/09).

GLOBAL ECONOMY -- IRELAND

Irish exodus casts shadow on recovery from financial crisis (Jamie Smith, Financial Times, 12/09).

Cheer Up: World Growth Is Accelerating (Jim O'Neill, Bloomberg, 12/08).

GLOBAL ECONOMY -- GREECE

Greece's Dismal Demographics (Nikos Konstandaras, The New York Times, 12/09).

LOCAL GOVERNMENT BANKRUPTCY

In Shepherding Detroit Bankruptcy, Lawyer Tackles a Job He Didn’t Ask For (Monica Davey and Bill Vlasic, The New York Times, 12/08).

MOBILITY AND EQUALITY OF OPPORTUNITY

When is inequality harmful? When it's caused by cronyism (Timothy P. Carney, The Washington Examiner, 12/06).

The Great MacGuffin (Mickey Kaus, The Daily Caller, 12/09).

Income Inequality’s Ripple Effect (John Podesta, Politico Magazine, 12/09).

The myth of the American Dream (Steve Hargreaves, CNN Money, 12/09).

FACTION

America’s Partisan Peril (Mohamed A. El-Erian, Project Syndicate, 12/09).