This report discusses the effects of the Budget Control Act on the U.S. economy, including discretionary spending caps projected to reduce the deficit by $917 billion over FY2012-FY2021.

EU leaders have agreed to significant moves to address the eurozone sovereign debt crisis that has roiled global markets. But analysts and investors are skeptical of the plan's long-term prospects.

European leaders met in Brussels to craft a comprehensive solution to the eurozone sovereign debt crisis. Sebastian Mallaby, director of CFR's Greenberg Center for Geoeconomic Studies, and Benn Steil, CFR director of international economics, discussed the outcome of the summit, the role of the continent's banks, the Greek debt crisis, and the eurozone's financial rescue fund.

Sebastian Mallaby and Benn Steil consider whether the Eurozone is salvageable.

Eurozone leaders issued this statement regarding the European debt crisis on October 26, 2011 at their summit in Brussels.

The fate of the EU is in doubt as a crucial summit prepares to address the economic crisis. CFR's Charles Kupchan says the union will likely survive and could even grow stronger by creating more capable institutions to oversee the euro.

As public funds decrease, Cezary Podkul discusses why infrastructure projects are shifting to the private sector.

Increased infrastructure spending has significant support in Washington these days, but Chris Edwards doubts its ability to lift the economy.

Political divisions continue to hamper a comprehensive solution to the eurozone sovereign debt crisis. EU leaders are caught between market forces urging greater European fiscal integration and strong nationalist sentiments warning against a loss of political sovereignty.

Donna Smith discusses the implications that will arise if the U.S. "supercommittee" fails to produce a deficit-cutting plan.

Peter Orszag traces the roots of the Occupy Wall Street movement to long-term declines in labor's share of national income.

Volatile global economic conditions have prompted hundreds of thousands of people around the world to demonstrate in solidarity with the Occupy Wall Street protesters. But the movement's potential for lasting impact stirs strong debate.

G20 finance ministers are pressing their EU counterparts to provide a comprehensive plan for stabilizing the eurozone and easing fears of contagion. They have signaled that, for now, the onus is on Europe to fix its debt problems.

In the wake of financial regulatory overhaul, experts continue to differ on the role of the Federal Reserve and its powers.

Benn Steil's column in the October 10th edition of Dow Jones' Financial News takes a critical look at popular European calls for a new "Marshall Plan."

John Cassidy compares perspectives on Keynesian economics between the 1930s and the present.

As Greece inches closer to defaulting on its pile of sovereign debt, European leaders must move quickly to recapitalize the continent's exposed banking sector, says EU economics expert Jacob Funk Kirkegaard.

Peter Orszag recommends tax incentives for investors who buy empty housing properties and rent them out.

Douglas W. Elmendorf, director of the Congressional Budget Office (CBO), estimates that one-third of the federal deficit is due to the current underutilization of capital and labor resources in the economy.

Despite a German parliamentary vote to boost the eurozone's bailout mechanism, Greek sovereign debt levels appear unsustainable and a default may be inevitable. Most economists think the question now is how to make the process orderly.