Topic: Alan Simpson

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Who's who on Congress's debt 'super committee'

Congress has created a special super committee to find at least $1.2 trillion in US budget cuts. If the plan is voted down, automatic spending cuts are slated to occur. Here are the 12 lawmakers named to the super committee.
Deficit commission: Four things both sides may agree on

Key Democrats and Republicans on the commission voiced agreement on some important things during the panel's public meeting Wednesday.

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Economist Mom
A rift over the GOP's tax pledge?

Over the past generation, the GOP's pledge to introduce no new taxes has become the essential conservative credential. But some Republicans are refusing to sign.
Tax VOX
A path forward on tax reform: 4 steps

Tax reform will be difficult, but with a four-step road map, it can be done.
Tax VOX
It's time to stop squabbling about the Bush tax cuts

Instead of arguing over an old law, lawmakers need to decide how much tax  revenue is needed and then figure out how to raise it. If they don't, there will be no serious deficit reduction and no tax  reform.
Tax VOX
Buffett rule: All about capital gains

Obama's objection—and Buffett’s—is not with rates paid by the average taxpayer who makes a million dollars or more a year Rather it is with those in this group who make most of their money from investments.
From jobs plan to tax cuts, can deficit ‘super committee’ handle mission creep?

The bipartisan deficit 'super committee' is charged with finding $1.5 trillion in savings over 10 years. Can it find $450 billion more to fund Obama's jobs plan? Can it find $4 trillion? More?
Social Security: Ponzi scheme or political football?

Social Security debate reignited with Rick Perry's critique of Social Security as a Ponzi scheme.
Who's who on Congress's debt 'super committee'

Congress has created a special super committee to find at least $1.2 trillion in US budget cuts. If the plan is voted down, automatic spending cuts are slated to occur. Here are the 12 lawmakers named to the super committee.
Tax VOX
John Boehner’s moment of truth

Will the Speaker of the House be able to take 'yes' for an answer?
Robert Gates: Defense Secretary's exit interview

Robert Gates will retire this month as the US Defense Secretary. In his 45-year career, he's served under eight presidents. In a Newsweek interview, Gates discusses Hilary Clinton, Osama bin Laden's death, and emerging US isolationism.
Economist Mom
Well, good for you, AARP!

AARP won't oppose cutting Social Security benefits anymore, which shows that the organization understands what it means to make tough choices
Tax VOX
Who pays no income tax? It is the wrong question.

The real question is: Who benefits most from more than $1 trillion in tax preferences?
Was Obama's speech too fiery? Why he was so harsh on GOP budget plan.

President Obama's campaign-style rhetoric reached for the Democratic base, and may be an acknowledgement that a deficit-reduction deal is unlikely before the 2012 election.
Tax VOX
Obama, Ryan, and the massive chasm that divides them

After the president's speech, it's clear that an historic fiscal debate between Democrats and Republicans is still to come
Economist Mom
Obama's chance to get back in the game

The president has an opportunity to take a liberal stance on reducing the deficit. Will he take it?
Tax VOX
Ease corporate tax by hitting up shareholders

A higher tax on investors and a lower tax on corporations could keep more investments in the US.
The New Economy
Cut the deficit? A job for kindergartners.

All that congressional budget-cutters need to know, they learned in kindergarten.
Tax VOX
Conrad makes a case against tax subsidies

Senate Budget Committee Chairman Kent Conrad is an important player in tax reform.
Is a US debt crisis two years away? Commission chairs call for a fix 'now.'

The chairmen of Obama's debt commission had a receptive audience in the Senate Budget Committee, as fears of a US debt crisis have brought a new tone of urgency to Washington.
What happens if Congress doesn't rein in national debt?

With the national debt at 90% of gross domestic product, the US could face a crisis if creditors raise interest rates, experts say.
Tax VOX
Little rebellions against party orthodoxy

A few Republicans and Democrats are turning away from their party's ideology. Can this lead to a bipartisan budget deal?
Video: Social Security isn't part of budget problem, says OMB director

Jacob Lew, director of the Office of Management and Budget (OMB), says Social Security 'is essentially a parallel issue.' But this doesn't mean policymakers shouldn't address its challenges.
Video: Backroom bipartisan talks 'positive,' says Obama budget director

Jacob Lew responded Thursday to a report that some senators are working on legislation that would trigger tax hikes and spending cuts if Congress fails to live within spending targets.
Robert Reich
Budget cuts pour gas on Republican flame

The coming debate over spending cuts has nothing to do with reviving the economy.
Economist Mom
Deficit reduction plan: Durbin and Bixby weigh in

Senator Dick Durbin (D-IL) and the Concord Coalition's Bob Bixby comment on the impact of the Bowles-Simpson deficit reduction proposal.
If Americans had a vote, would they back deficit commission report?

Americans appear to back the intent of the bipartisan commission report – cutting the deficit – but it is less clear whether they approve of the panel's dramatic solutions.