Erskine Bowles and Alan Simpson, who chair Obama's commission on reducing the national debt, delay a key vote. It's an indication how elusive consensus will be on cutting the deficit.
Animal rights activist Park So-youn holds stray dogs rescued from a village on Yeonpyeong Island damaged by North Korean artillery shelling, as South Korean marines stand nearby. South Korean President Lee Myung-bak labelled North Korea's artillery attack on a southern island a crime against humanity and said Pyongyang will pay the price for any further provocation. North Korea fired shells at the island off the peninsula's west coast on Tuesday, killing two civilians and two soldiers and destroying dozens of houses.
In many ways, the Republicans' voluntary two-year earmark ban is limited in scope. But it's already undermining Congress's spending 'cardinals' and changing how lobbyists lobby Capitol Hill.
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.'
At a Monitor breakfast with reporters, the chairmen of the presidential debt commission say that lawmakers will finally cut the deficit either because of a crisis or because they're listening to one another. Let's hope it is the latter.
Democrat Erskine Bowles, chief of staff to President Clinton, and Republican Alan Simpson, former senator, have crafted a deficit reduction and tax code reform plan that spreads the spending cuts across the government with innovative ideas for increasing revenues.
The co-chairs of Obama's deficit-reduction panel issued a proposal to reduce the national debt by $4 trillion in 10 years. But the budget cuts and tax increases promise to anger just about everyone.
The issues that mattered most to voters, including sluggish economic growth and the high unemployment rate, figured prominently in the governor election results.
Beige Book is the Federal Reserve's periodic survey of economic conditions around the US.