Earmarks, Medicare and More

There are several budget-related stories or reports out that are worth a read -- not only because they're important but also because they're quite readable:

• Congressional Democrats and Republicans have a moment of bipartisanship: they can both agree that the White House also uses earmarks.
• The number of people enrolled in Medicare Advantage (the program that allows Medicare recipients to get their coverage from a private health plan) is increasing rapidly, according to a new issue brief from the Congressional Budget Office. Unfortunately, Medicare Advantage also costs more than traditional Medicare, so this is not a good thing for the long-term budget outlook.
• A House committee reports that half of all federal contracts in 2006 were either no-bid contracts or awarded after only limited competition.
• You probably didn't know this (how many people do?) but the federal farm subsidy program is up for renewal this year. The Heritage Foundation, one of our Facing Up partners, is very critical of the $25 billion program.
• Another Facing Up partner, the Brookings Institution, has a piece on whether the fact that foreigners hold so much of our massive national debt is making the U.S. more vulnerable, either economically or politically. Any paper on the national debt that works in a reference to Goldfinger deserves bonus points.