Some of Obama’s budget proposals are sound policy, but congressional gridlock and faster economic reforms in China and Europe could jeopardize U.S. competitiveness, says Economist.com editor Ryan Ave…

Robert Hormats, the vice chairman of Goldman Sachs International, discusses hidden economic costs of the Iraq war and urges frank discussion of the U.S. military budget.

Special tax incentives have enabled Puerto Rico to borrow irresponsibly for years, and now the island must take painful steps to balance its budget, explains expert Matt Fabian.

Defense-spending cuts should be a big part of a deficit reduction deal, says CFR’s Richard Betts, with the Pentagon pursuing a budget that reflects a reduced threat environment and limits the product…