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Obama to Debt Panel: 'Day of Reckoning' at Hand for Dealing With Deficit
By Tom Diemer - Politics DailyFaced with a national debt at $7.5 trillion and growing, President Obama told a newly created deficit commission that "everything has to be on the table" in terms of finding ways to reduce the red ink overwhelming the federal budget. The 18-member panel, officially known as the Commission on Fiscal Responsibility, held its first meeting Tuesday at the White House. Obama, in his welcoming remarks, did not go into specifics and vowed not to be drawn into the "old Washington game" of previewing what steps might be considered -- or ruled out -- in framing a debt reduction plan. "I'm not going to ...
If Past Is Guide, Debt Commission Chiefs Agree on Little
By Russell Berman - AOL NewsWASHINGTON (Feb. 18) -- Erskine Bowles and Alan Simpson have the unenviable task of getting an 18-member commission and then a majority of Congress to agree on an unpopular combination of tax hikes and spending cuts that are likely needed to rein in the nation's enormous deficit. If their records are a guide, they may have a tough time just agreeing with each other. The two men President Obama named to lead a bipartisan fiscal panel have deep experience with the entitlement programs, chiefly Social Security and Medicare, that economists say are driving the trillion-dollar deficits for the ...
Obama, Biden Tout Stimulus Spending; President to Name Deficit-Reduction Panel
By Tom Diemer - Politics DailyIt's not the kind of festive anniversary we associate with weddings or heroic events. But the White House marked the one year since President Obama signed the $787 billion stimulus bill with a major PR roll-out Wednesday, arguing that the recovery plan had saved the country from going over an economic cliff. "No large expenditure is ever that popular, particularly at a time when we are also facing a massive deficit," Obama said. "Our work is far from over, but we have rescued this economy from the worst of this crisis." The Democratic National Committee and its counterpart, the Republican ...
Over the Transom in the SCOTUS Justice Search
By Bonnie Goldstein - Politics DailyThe Washington Post's Dan Eggen makes the point today that the battle of the interest groups will be a deeply lopsided fight in the run up to SCOTUS confirmation hearings because "Republicans are in the political wilderness." ...
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