Thursday headlines note the failure of President Obama's bipartisan deficit commission to reach consensus, but the opposite is also true to some extent. Key Democrats and Republicans on the commission voiced agreement on some important things during the panel's public meeting Wednesday. Sooner or later, these points of common ground could help pave the way for legislation.
Rep. Paul Ryan (R) of Wisconsin praised Obama's debt commission report at a Monitor Breakfast Thursday, but said he wouldn't vote for it because it fattened health care.
Alan Simpson and Erskine Bowles, co-chairs of President Obama's deficit commission, hope their final report will start an 'adult conversation' about the national debt. But members of Congress might have too much to lose politically to back the report.
A payroll tax holiday could give a short-term boost to the economy, while other parts of Alice Rivlin's plan would raise revenue.
The Bipartisan Policy Commission has released a tax reform plan that slashes spending and reinvents tax policy: starting with a year-long payroll tax holiday.
Commission’s draft proposal on cuts and taxes to slash national debt has riled partisans on both sides. Next major move is President Obama’s.
Peter Orszag is said to be leaving after less than 18 months of wrestling with record deficits and a deep recession. Most White House budget directors last two years.