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.
It doesn't rein in the government's runaway costs for Medicare and Medicaid,says the director of the Congressional Budget Office.
A likely topic in his address Tuesday, the long-term budget gap is largely caused by popular entitlement programs.
Major job cuts announced this week add urgency to the bill as it nears a House vote.
Until then, employment, output, and housing prices will keep falling.