Econ Breakfast Briefing: 1.3 Million Job Overestimation, The LA Budget, Shotguns for the IRS, Health Spending Consumed Record Portion of Economy...

• What Happens If Nothing Happens? - online.wsj
• Explaining The Government's 1.8 Million Job Overestimation In Pictures - zerohedge
• Paying credit cards outweighs mortgage as top priority - Feb. 3, 2010 - money.cnn
• The IRS Is Looking For 60 12-Gauge Pump Actions Guns To Arm Its Investigators - businessinsider
• The Death Of US Manufacturing Is A Tragedy, Says Tilton - businessinsider

• Social Security and Deficit Reduction: Some Fun with Numbers - angrybear
• CHART OF THE DAY: Guess What, The US Just Started Creating Jobs Again - businessinsider
• Housing Stock and Flow - calculatedriskblog
• ADP employment report/less bad trend continues - ritholtz
• Increasing layoffs could spell trouble for economy - creditwritedowns

• Affirmative Action: Costly and Counterproductive - mjperry
• MBA: Mortgage Applications Increase to mid-December Levels - calculatedriskblog
• Pumped With Cash -- And Ready to Crash? - ritholtz
• Economically Illiterate Quote of the Day: The LA Budget - globaleconomicanalysis
• Disruptive Innovation from the Invasion of the Retail Health Clinics: A 9X Increase in 9 Years - mjperry

• Health Spending Consumed Record Portion of Economy in 2009 - cnbc
• Another Reason Why Defaults Will Explode This Year: IRS Form 4506 - zerohedge
• Wither Deflation? - zerohedge
• Don't Worry About Inflation... For Now - econompicdata