Erskine Bowles and Alan Simpson, the deficit-reduction duo, are trying to rekindle congressional interest in a $2.5 trillion package of spending cuts and tax increases with new details showing how it could work.
After the House of Representatives passed a budget and a stop-gap measure to fund the government through the end of the fiscal year today, Congress is now poised to turn its attention to a fresh battle over a looming debt limit increase.
In the week ending March 30, the advance figure for seasonally adjusted initial claims was 385,000, an increase of 28,000 from the previous week’s unrevised figure of 357,000. The 4-week moving average was 354,250, an increase of 11,250 from the previous week’s unrevised average of 343,000.
The number of Americans filing new claims for unemployment benefits rose last week, but not enough to suggest the labor market recovery was taking a step back.
As I mentioned in an earlier blog post, we think that some of our answers to follow-up questions from Congressional hearings may be of general interest, so we’re posting them.