Topic: Erskine Bowles

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If not 'sequester,' then what? Five ideas from left and right.

Few in Washington believe that "the sequester,” $85 billion in automatic spending cuts set to hit the federal budget as of March 1, is a good idea. But what's the alternative? Here are five proposals, from the right, the center, and the left, to replace the sequester. Which do you like?
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Obama vs. Romney 101: 5 ways they differ on debt and deficits

President Obama and Mitt Romney offer sharply different views on how to get the nation back on a sustainable fiscal path. Here are five ways they differ on policies to cope with a soaring debt.
Briefing
'Fiscal cliff'? 'Sequester'? Your guide to Congress's code language.

Congress knows what it means by terms such as 'fiscal cliff' or 'Simpson-Bowles,' but to many outside the Beltway they may as well be speaking Greek. Here's a translation of Washington's shorthand for budgetary issues now before the country – with each entry explained in 50 words or less.
Four gambits Obama could try to boost election prospects

President Obama got big headlines – and a political bounce – from his new policy protecting some young illegal immigrants from deportation and offering them temporary work permits. By a 2-to-1 margin, likely American voters support the move, according to a Bloomberg poll. So what other potential gambits does Mr. Obama have in his hip pocket, especially if he needs another jolt before Election Day? Here are four.
Who's who on Congress's debt 'super committee'

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Cuts to Social Security? What Obama is proposing.

In an effort to reach a bipartisan agreement to reduce federal deficits, President Obama is backing a change in the inflation formula used to calculate adjustments in Social Security benefits.
Tax VOX Should the US adopt a territorial tax system?

Backers of a territorial tax system argue that the current worldwide system puts US firms at a competitive disadvantage since they must pay the high US tax rate on repatriated profits earned by their affiliates in low-tax countries, while multinationals based in territorial countries pay only the local tax rate on these profits, Toder writes.
Congress opens first budget debate in four years

Congress this week takes up the parties' sharply different views on taxes and spending. Just laying down political markers on next year's budget could help advance a 'grand bargain' on deficits and entitlements, some say.
Obama's plan to replace the 'sequester': Does the math add up?

President Obama wants to replace the sequester with a package of spending cuts and tax revenues adding up to $1.5 trillion over 10 years. But some say that's not enough savings.
If not 'sequester,' then what? Five ideas from left and right.

Few in Washington believe that "the sequester,” $85 billion in automatic spending cuts set to hit the federal budget as of March 1, is a good idea. But what's the alternative? Here are five proposals, from the right, the center, and the left, to replace the sequester. Which do you like?
Robert Reich Entitlement reform and immigration reform: How are they connected?

One logical way to help deal with the crisis of funding Social Security and Medicare is to have more workers per retiree, Reich writes, and the simplest way to do that is to allow more immigrants into the United States.
Tax VOX Bowles-Simpson II: a new plan to avoid the sequester

The Bowles-Simpson framework seems a plausible alternative to the current game of sequester-and-gridlock, Gleckman writes.
New Simpson-Bowles plan: how it envisions a sustainable fiscal path for US

The proposals by former White House Chief of Staff Erskine Bowles and former Sen. Alan Simpson would supplant the 'sequester,' among other things.
White House rejects GOP plan: Tax rates for top 2 percent must go up (+video)

It did not take long for the White House to dismiss the Republican deficit-cutting proposal, which raised revenues by capping deductions. Now both sides have laid down their markers.
GOP 'fiscal cliff' counteroffer: What's in it?

GOP leaders responded to President Obama's 'fiscal cliff' proposal with their own. It calls for new tax revenue and turns to a Democratic idea for spending cuts, but it doesn't raise tax rates.
Falling off 'fiscal cliff' is 'insane' but likely, say Simpson and Bowles (+video)

Debt-fighting duo Erskine Bowles and Alan Simpson, who led Obama's bipartisan debt-reduction panel, speaking at a Monitor breakfast Wednesday warn partisans in Congress against going over the fiscal cliff in a bid to gain a political advantage.

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US plunge off 'fiscal cliff' is likely, say debt gurus Simpson and Bowles (+video)

Former chairs of Obama's debt commission, Alan Simpson (R) and Erskine Bowles (D), said at the Monitor breakfast Wednesday they see just a one-third likelihood that the White House and congressional Republicans will reach a deal by year's end to avert the fiscal cliff.

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Opinion: To avoid fiscal cliff, Obama and GOP should compromise like Founding Fathers (+video)

President Obama and John Boehner express optimism that a budget deal to avoid the fiscal cliff will be reached, but gridlock threatens. Politicians would do well to remember that America was established by men who sorely disagreed. Consider the Constitutional Convention of 1787.
Great expectations for US economy: Are Obama, Romney too optimistic?

Mitt Romney and President Obama both present to voters rosy views of future economic growth. Those scenarios aren't impossible, but it's fair to attach some big asterisks to them.
Fix the Debt: CEOs launch drive for 'grand bargain.' Is Washington listening?

The Fix the Debt CEOs, who are dedicated to pushing Washington toward a deficit-reducing 'grand bargain,' say they were appalled by the reckless debate over the debt ceiling in 2011.
Tax VOX The real lesson about capping itemized deductions

The campaign of GOP presidential candidate Mitt Romney has criticized the Tax Policy Center for new research that provides evidence that a deduction cap is a pretty good, though insufficient, idea, Gleckman writes.
Tax VOX What the Joint Tax Committee really said about tax reform

Gleckman takes a closer look at a new analysis of tax reform by the Joint Committee on Taxation. His perspective may offer some relief to tax reformers.
Mitt Romney pitches smaller government: Is his target realistic?

While President Obama sees sizable government as fostering economic growth, Mitt Romney wants to cap federal spending at 20 percent of GDP. Is that goal feasible – and economically helpful?
Briefing
Obama vs. Romney 101: 5 ways they differ on debt and deficits

President Obama and Mitt Romney offer sharply different views on how to get the nation back on a sustainable fiscal path. Here are five ways they differ on policies to cope with a soaring debt.
Tax VOX Where was tax reform at the GOP convention?

In last night’s acceptance speech, Mitt Romney sketched out his personal biography and delivered an effective brief on why we shouldn’t reelect President Obama. But, oddly, when it came to taxes he was nearly silent.
Tax VOX Romney tax plan 'conceptually' close to Simpson-Bowles? No way!

Romney tax plan avoids several key Simpson-Bowles proposals that would raise taxes overall and reduce the deficit. Instead, Romney tax plan relies solely on mostly unspecified spending cuts to trim deficit.
Decoder Wire Bipartisan powers, activate! Can Congress's debt avengers be superheroes?

Once again, Washington's bipartisan, blue-ribbon, out-of-power elite gathers to urge Congress to break the gridlock and do the right thing on the nation's looming financial Armageddon.
Briefing
'Fiscal cliff'? 'Sequester'? Your guide to Congress's code language.

Congress knows what it means by terms such as 'fiscal cliff' or 'Simpson-Bowles,' but to many outside the Beltway they may as well be speaking Greek. Here's a translation of Washington's shorthand for budgetary issues now before the country – with each entry explained in 50 words or less.
Tax VOX Congressional senior moment? Flip-flopping on Bowles-Simpson

Suddenly, the tough budget reform proposed by Alan Simpson and Erskine Bowles is getting a second look. Oh, politicians don’t love the real plan, but they are positively enamored of their own self-edited, stripped-down versions.
Sheryl Sandberg becomes Facebook's first board woman

Sheryl Sandberg, Facebook's chief operating officer, has become the first woman on the company's board of directors. Sheryl Sandberg has been with Facebook since 2008, when the social-networking site lured her away from Google.