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Enough With Budget Brinksmanship: The Case for Waiting Until 2012
By Walter Shapiro - Politics DailyWith the government living on a two-week financial reprieve that will expire on March 18, this is Rumpelstiltskin time in politics as everyone seems to be stamping his feet in rage over the $14-trillion national debt. Republican Paul Ryan, chairman of the House Budget Committee, is making the rounds with charts entitled "Reckless Spending Spree" and "Tidal Wave of Debt." In a clarion-call address to the Conservative Political Action Conference (CPAC), Indiana GOP Gov. Mitch Daniels warned of "the new Red Menace, this time consisting of ink." Talking to a convention of religious broadcasters ...
Bowles, Simpson Urge Obama to Act on Deficit Report Next Month
By Tom Kavanagh - Politics DailyThe leaders of the bipartisan commission on deficit reduction called upon President Obama on Thursday to open negotiations with congressional leaders from both parties when Congress returns in January. It is important to take "the critical next step of establishing a serious fiscal responsibility plan to strengthen our economy for the long term," they said. Co-Chairmen Erskine Bowles and Alan Simpson issued the call before meeting with Budget Director Jack Lew and Treasury Secretary Timothy Geithner at the White House. The panel they headed issued its report last week, urging a number of ...
Debate: A Credible Way Out of Our Fiscal Swamp
By not in system - AOL News
(Dec. 3) -- Many skeptics thought President Barack Obama's fiscal commission was a pointless exercise, doomed to failure on its assignment to develop a plan to rein in the massive federal deficits that are projected for the next decade and beyond. But today a bipartisan majority of that panel proved the skeptics wrong, and the nation owes these commission members a debt of gratitude. The Deficit Commission:Good Idea or Bad? Pro: It's a credible roadmap out of our fiscal swamp, says Robert L. Bixby of the Concord Coalition. Con: It's a needless distraction from our current economic crisis, ...
Deficit Panel Report Gains Support of Two Republicans
By Tom Diemer - Politics DailyNo one ever said this wouldn't be semi-tough. The bipartisan deficit commission, rocked by criticism of painful recommendations by its leaders, had to postpone a vote on its report on how to address the nation's mounting budget problem. But on Thursday two of the Senate's most conservative members came on board, reviving hope that the deficit plan might get the blessing of a majority of the panel's members -- if not the super-majority that it needs to assure consideration in Congress. The final report, formally unveiled Wednesday, calls for raising the age for Social Security benefits, sharp ...
Deficit Panel Tackles Proposals for Cutting Budget
By not in system - AOL News
WASHINGTON (Dec. 1) - A tough new cost-cutting playbook submitted by the co-chairmen of President Barack Obama's deficit commission drew critical support from the chairman and senior Republican on the Senate Budget Committee Wednesday. But other panelists voiced opposition or serious reservations, underscoring deep divisions on the issue. At the same time, even critics of the plan depicted the recommendations of the commission's co-chairmen as a good start on the road to getting the nation's fiscal house in order. As the commission convened Wednesday to discuss the call by Erskine Bowles and ...
On the Table for the Holidays, Countless Unwelcome Ways to Tighten Our Belts
By Jill Lawrence - Politics DailyJust in time for Thanksgiving, Washington is serving up multiple deficit-reduction plans to an ungrateful nation. The rating system of, by and for the people seems to run a narrow gamut from starter course (as in 'needs wholesale changes') to completely indigestible. True, we are only a couple of weeks out from our electoral apocalypse and the battle cries of the tea party and Club for Growth: Storm the Capitol, cut spending, cut taxes, stop creeping socialism in its tracks. But it turns out that the noise, and even the victories of so many of those candidates, did not reflect a broad public ...
Deficit Commission Proposals Give Most Americans the Shivers, Poll Says
By Bruce Drake - Politics DailyThe sweeping plan put forward by President Obama's bipartisan deficit commission last week, with its calls for deep spending cuts in sacrosanct programs as well as tax increases, has drawn howls of protest from across the political spectrum. The New York Times observed that one of the things the panel hoped to accomplish by proposing measures such as ending the home-mortgage-interest deduction was to "jar the public into recognizing the magnitude of the nation's budget deficit and some of the drastic steps that might be needed to close it." The commission has at least succeeded on the ...
As Deficit Fight Looms, Obama Eyes Earmarks
By Joseph Schuman - AOL News
(Nov. 13) -- Get ready to hear a lot more about earmarks, those generally unvetted and under-the-radar additions to spending bills used by members of Congress to bring federal dollars home to their constituents. They were a target of both President Barack Obama and his opponent, Republican Sen. John McCain, in the 2008 presidential election but remain an active legislative vehicle for federal spending. And even as Washington gears up for a new fight over how to cut the budget deficits built up over a decade of financial crisis, wars and significant tax cuts, Obama today is taking aim at ...
Opinion: 3 Painless Ways to Kill the Debt Dragon
By not in system - AOL News(Nov. 12) -- Gen. George S. Patton once proclaimed that the duty of the American soldier wasn't to die for his country but to get some poor bastard from another country to die for his. We would do well to pay heed to that advice as President Barack Obama's debt commission starts to lay out the pain and sacrifice it says will be needed to cut the nation's crushing debt load. The message of U.S. citizens to federal officials should be "You first." To be sure, Obama's bipartisan deficit hawks, former Republican Sen. Alan Simpson and former Clinton White House chief of staff Erskine Bowles, are ...
Opinion: Finally, Good News on the National Debt
By not in system - AOL News
(Nov. 11) -- It's not every day that the country receives some encouraging news on the deficit and debt front. But Wednesday just so happened to be one of those days. The co-chairs of the White House's National Commission on Fiscal Responsibility and Reform, former White House Chief of Staff Erskine Bowles and former Sen. Alan Simpson, R-Wyo., released their own proposal for how to get the deficit and debt to manageable levels. While this proposal is not the final report of the commission, it reflects the first step in the commission's task of trying to forge a consensus among a minimum of 14 ...
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