Topic: Maya MacGuineas

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Six days left: Slowly, for super committee, failure is becoming an option

Republicans and Democrats remain far apart on how much tax hikes should contribute to deficit reduction. The deadline for the super committee to reach a deal is next Wednesday.
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?
Can 'super committee' play fair as it tries to control national debt?

The task of reining in the national debt lies in the hands of a super committee of 12, which gets down to business now that Congress is returning from its summer break.
Tax VOX
How Congress can cap tax breaks

It's possible to reduce tax subsidies for wealthy Americans and reduce the deficit. Here are three proposals how:
'Gang of Six' plan hailed as debt-ceiling breakthrough. What's in it?

The proposal by the 'Gang of Six' senators Tuesday draws on ideas from the deficit commission. The middle-of-the-road plan will have to overcome partisan concerns and a lack of time.
Debt ceiling: If $4 trillion 'grand bargain' fails, is America in trouble?

Debt ceiling talks could result in a $4 trillion 'grand bargain,' or a smaller $2 trillion deal. Most economist say the bigger deal would be more helpful – and send a positive message to markets.
GOP quandary: Is a vote to eliminate tax breaks actually a tax hike?

One of the few potential points of bipartisan compromise in the budget stalemate is reining in tax breaks. A Senate vote Tuesday could reveal whether GOP senators are on board.
Reform Social Security now? Demographics of electorate say yes.

Republicans and Democrats seem to be talking past each other on Social Security. Republicans are unwilling to consider tax increases, and Democrats don't want to cut benefits.
US credit rating: Congress has many debt plans, but will it heed warning?

US credit rating is still AAA, but Standard & Poor’s added a cautionary note because of the nation’s ‘rising government indebtedness.’ Here's a look at some of the budget plans in Congress.
Why the budget deficit is so hard for Congress to shrink

Congress has less and less leeway for closing the budget deficit as outlays for entitlement programs grow.
Economist Mom
Cockeyed optimists and the federal budget

Will congressional Republicans and President Obama reach a budget deal this year?
Obama's State of the Union long on US greatness, short on austerity

President Obama called on America to maintain greatness through innovation. In his State of the Union address Tuesday, he also proposed cuts in defense and a partial budget freeze.
Deficit reduction: Why it may not be dead despite the costly tax cut deal

The tax cut deal that President Obama signed Friday costs $858 billion, making the cause of deficit reduction that much more challenging. But deficit hawks still see some hopeful signs.
Will Obama take lead on national debt and budget deficit?

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.
To reduce national debt, 'shared sacrifice' necessary, deficit chairs say

The chairmen of Obama's debt commission have outlined a plan designed to show that progress is possible in reducing the national debt – if Americans agree to make tough compromises.
Post election, Congress can't ignore the deficit

After midterms, Congress must tackle $1 trillion budget deficit. Proposed: crack down on tax evaders, cut non-war defense spending, and let tax cuts for the wealthy expire as scheduled.
Like France, will US soon move to boost retirement age?

The prospect of a higher official retirement age infuriates many French. Boosting the age limit in the US is one way to help make Social Security solvent, many economists say. Would Americans be just as mad?
America's Job No. 1: A better employment rate

A selection of solutions for a better employment rate: From cutting taxes to raising taxes, job sharing to job training.
Tax VOX
A credible plan to cut the budget deficit

The plan, which includes a spending cap and carbon tax, would cut the budget deficit to less than 1 percent of GDP by 2020.
Letters to the Editor – Weekly Issue of June 28, 2010

Readers write in about taxes, and progress Obama has made.
Pressure building to cut US deficit

The public pressure for reducing the country's ballooning deficit is rising, but will policy makers listen?
Congress scoffs at Obama's plan to trim 'pork' spending

A White House plan released Monday would give the president more power to cut 'pork' spending. But Congress controls the federal purse strings jealously.
State of the Union reactions: a mix of praise and skepticism

President Obama's State of the Union speech evoked mixed reactions from groups representing seniors, environmentalists, and small businesses. Some praised his policy proposals but wanted to see more action.
Obama's Afghanistan war plan: How will he pay for it?

It will cost an additional $30 billion a year. Some antiwar Democrats in Congress talk of a 'war tax,' but the most likely option to fund Obama's Afghanistan war plan is to keep borrowing.
Three gimmicks that make Senate healthcare bill look better

Cost-cutting accounting tricks are a common feature of Washington legislation. The Senate healthcare reform bill may be no exception.