Topic: National Commission on Fiscal Responsibility and Reform

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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.

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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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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.
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.
Chain, chain, chain ... chain CPI

Is the Consumer Price Index really the best way to measure inflation?
US debt crisis: Can a deeply divided 'Gang of Seven' make any progress?

The members of the House and Senate who were appointed to the latest presidential deficit panel represent the starkest partisan views on Capitol Hill. But that could be a good thing.
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.
Budget wranglers find 'entitlement cuts' and 'tax hikes' still dirty words

'Gang of Six' deficit-cutting negotiators in the Senate are mum after rumors of entitlement cuts and tax code reform nearly derailed talks. Still, a short-term budget accord this week did manage to avert a government shutdown.
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.
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.
Giving adulthood a bad name in D.C.

Washington may have glommed onto the phrase 'adult conversation' to spice up the debate on fiscal reform.
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.
Q&A with Congressman Paul Ryan

At a Dec. 2 Monitor breakfast, soon to be House Budget Committee chairman Rep. Paul Ryan (R) of Wisconsin discussed what he likes in the National Commission on Fiscal Responsibility and Reform's final report, but why he planned to vote against it.
Mortgage interest deduction: Can US debt panel keep it on the chopping block?

The mortgage interest tax deduction is cherished by many Americans as the path to homeownership. But the co-chairmen of the US debt panel say it should be rolled back.
What can lame-duck Congress get done? Seven items on to-do list.

The lame-duck Congress returns to session Monday with a laundry list of things to do. Avoiding a government shutdown is top on the list. But there are other important items, too.
Q&A with fiscal commissioners Alan Simpson and Erskine Bowles

At a Nov. 19 Monitor breakfast, Alan Simpson and Erskine Bowles discussed their plan to lower the US budget deficit, arguing that if reform doesn't happen, 'the choices will be made for us.'
Deficit commission co-chairs warn of Greece-like debt crisis in US

The US would get in quick financial trouble and military funding could be jeopardized if Congress ignores the recommendations of the deficit commission, its co-chairs say.
'Brutal' vote ahead on whether to raise the national debt ceiling

Many new Republicans were elected on a platform of shrinking the federal government. The first big test of their sincerity it coming, with a vote on whether to let the US borrow more money to increase the national debt. Deficit commission co-chair Alan Simpson says he 'can't wait.'
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.
Activist groups, distrustful of candidates, push for pre-election pledges

Many grass-roots activists want candidates to sign pledges to, say, undo health-care reform. Will such pledges tie lawmakers' hands later, or improve accountability?
Democrats' bold stand: Want to trim federal debt? Cut defense.

On Wednesday, 56 Democrats and one Republican said that any effort to reduce the federal debt needs to include defense cuts. They called for an independent commission to take up the issue.
Q&A with Governor Tim Pawlenty

At a July 26 Monitor breakfast, Minnesota Governor Tim Pawlenty (R) discussed the US war in Afghanistan, his plan to reform Medicare, and whether he will run for president in 2012.
US adds 3.8 million more to ranks of the poor as poverty rate jumps

US poverty rate hit 14.3 percent last year, up from 13.2 percent in 2008. The jump bring the number of the poor to its highest level since 1959, five years before the Johnson-era War on Poverty.
Social Security: Alan Simpson offends almost everyone with 'cow' quip

Social Security is a touchy subject. Alan Simpson, co-chair of Obama's deficit commission, has a colorful mouth and lots of things to say about Social Security. Put the two together and 'poof!' another political brush fire for Obama.
How to fix the deficit: Tax and cut

If Congress fails to increase tax revenues and cut costly programs, the federal deficit promises to be more than $1 trillion a year for the next decade.