DAILY FISCAL POLICY REPORT -- Mar. 7, 2008

Economy -- 63,000 Job Lobs Lost in Feb.: The U.S. economy lost 63,000 jobs last month, the biggest such figure in five years and -- following January 22,000 in job losses -- the first back-to-back monthly declines in as long. "[M]uch weaker than economists were expecting," per WaPo. Labor Dep't report. Budget Resolution -- Amendments of Note: House and Senate budget resolutions cleared their respective budget committees and are headed for floor debate, vote-a-rama, and final vote next week. In the Senate, the Budget Committee defeated a series of GOP amendments to create various exceptions to PAYGO. House BR docs. Senate BR docs. Procurement -- Controversy over Tanker Contract: House Appropriations Committee members are warning they may kill a multibillion-dollar contract to replace a fuel tanker fleet if the Pentagon cannot explain why it gave the deal to a partnership between Northrop Grumman and the European parent of Airbus, instead of to Boeing. Story.
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