Topic: U.S. Senate Budget Committee

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In Pictures: Who's who in the US debt crisis
Obama open to short-term deal on debt ceiling. Here are five ideas.

The White House announced Wednesday it would support a short-term deal to raise the debt ceiling. Suddenly, Washington is awash in prospects for a deal. Check out these five.
Gallery: Retiring senators

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Economist Mom
Paul Ryan's budget and the sticking point between the left and right

In their calls for tax reform, Republican Paul Ryan and Democrat Kent Conrad have a lot in common. But the question over tax revenues continues to drive the two sides apart.
Economist Mom
Tax policy won't fix the economy on its own

Many tax policy experts spin a simple fairy tale when they talk about how to reform the tax system. They say that we just need to cut tax rates, which will expand the economy, which in turn will reduce the deficit. But unfortunately, in the real world, we face real budget constraints and a real scarcity of resources.
On the Economy
Ben Bernanke shows his mettle, again

In recent remarks, Ben Bernanke showed that he’s not at all swept up in optimism about recent improvements—he’s particularly on point regarding continued weaknesses in the job market—and he clearly cites all the reasons to keep pressing on monetary stimulus.
Senate wraps up year's work – finally

The US Senate – battered by fiscal crisis and gridlock – voted Saturday to fund the government through FY 2012 and extend a payroll tax cut, set to expire on Dec. 31. The House is expected to vote next week.
In Kansas, a combative Obama tries on his Teddy Roosevelt hat

In the Kansas town where Teddy Roosevelt called for a progressive 'New Nationalism,' Obama delivered a populist appeal fairness through taxes and regulation and an indictment of the GOP agenda as he sees it.
Payroll tax cut: why Republicans might back Obama's plan (VIDEO)

President Obama has hit the road to lobby for his plan to extend and expand this year's payroll tax cut 'holiday.' Though concerns remain, Republicans worry that Obama is gaining traction.
In Pictures: Who's who in the US debt crisis
Obama open to short-term deal on debt ceiling. Here are five ideas.

The White House announced Wednesday it would support a short-term deal to raise the debt ceiling. Suddenly, Washington is awash in prospects for a deal. Check out these five.
Can President Obama jump-start debt talks?

President Obama has invited congressional leaders to the White House Thursday to try to resolve the stalemate over raising the debt limit. The deadline for a deal is Aug. 2.
White House insists taxes must be part of the debt and deficit solution

As debt talks shift to Obama, GOP Speaker John Boehner, and Democratic Senate leader Harry Reid, taxes remain the logjam. No one wants to be seen as giving ground on that issue too quickly.
A glint of compromise in Congress's debt limit stalemate?

Republicans say they'll raise the debt limit only if Congress passes 'real savings' in the form of spending cuts. Democrats prefer tax increases. A Senate vote Tuesday could offer a way to help bridge the divide.
Senate Democrats shoot down GOP's House budget plan. Now what?

Wary of the impact on Medicare, five Republicans joined Senate Democrats in defeating the Republican budget plan written by Rep. Paul Ryan. But the Democrats have no plan of their own, and this could hurt them.
Congress has plenty of deficit-cutting plans, but can any of them fly?

President Obama met with Senate Democrats on Wednesday, and he will meet with Republicans Thursday in a bid to find a fiscal way forward.
Obama speech this week promises bigger fights ahead on debt and spending

Congress and the White House may have resolved one budget crisis. But comments on the Sunday talk shows indicate bigger fights ahead over federal debt and government spending.
Why Obama calls GOP plan to delay government shutdown 'a distraction'

House Republicans passed a continuing resolution that would delay a government shutdown for a week. But there's a lot to dislike in the bill for Senate Democrats and President Obama.
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.
What happens if Congress doesn't rein in national debt?

With the national debt at 90% of gross domestic product, the US could face a crisis if creditors raise interest rates, experts say.
Donald Marron
Imagine the economy were a pizza parlor

A pizza analogy shows how doubling the tax rate could quadruple economic harm.
House GOP wants $74 billion in budget cuts: Draconian or only a start?

House Budget Chairman Paul Ryan releases his spending limits for the 2011 House budget. Democrats say the cuts are unconscionable. Some Republicans say they're too small.
Value added tax: Senate weighs a tax reform Reagan once shunned

As president, Ronald Reagan, was 'not enthused' by the idea of a value added tax (VAT) in America. But at a Senate hearing this week, tax reform experts pushed for it.
Donald Marron
Seven ways to reform a broken tax system

Tax reform should include a redesign of income tax.
Federal budget battle: Can Congress avoid a government shutdown?

GOP proposals to cut the federal budget range from $100 billion to $500 billion to a symbolic $1.5 trillion. With Democrats wary of stifling the economic recovery, the divide just may be too wide.
Unemployment rate drops to 9.4 percent, but little cheer in jobless report

The unemployment rate is at its lowest level since May 2009, but this partially reflects some people giving up on job searches.
Economist Mom
The three wise men of fiscal responsibility?

Three men – if wise enough – can reduce the federal budget deficit down to sustainable levels: President Obama, Congressman Paul Ryan, and Senator Kent Conrad.
Why Obama's latest bid to control national debt might not change anything

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.