The administration has notified members of Congress that because they apparently will not raise the federal debt limit by May 16 – when the limit is expected to be reached -- the Treasury Department will begin implementing “extraordinary measures” to…
Elected officials in both parties have made what I call “magical, mystery tax pledges” that are at odds with bipartisan approaches to serious deficit reduction:Republicans: Don’t raise revenue above the 40-year historical average of around 18-19 percent of GDP.Democrats, including…
Congressional leaders have completed their appointments to a deficit-reduction panel proposed by President Obama but the group will have little time to develop a long-term plan, and some of those named have not shown great enthusiasm for the broad-based approach…
Projected federal deficits are so large that Congress should look far beyond the non-defense spending on which it has heavily focused in recent weeks.In a guest commentary on ABC.com, Concord Coalition Executive Director Robert L. Bixby notes that bipartisan groups…
