Overview for debt-reduction

Super Failure

“Failure is not an option.” “Well, maybe it is.” Such sums up the work of the Joint Select Committee on Deficit Reduction (JSC) formed last August with the task of finding $1.2-1.5 trillion in deficit savings during the next decade. Some sort of cobbled-together semi-deal may emerge from …

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Written by Steve Bell on Monday November 21, 2011

America's Debt Will Get Kicked Down the Road

While much of Gucci row wonders what the Joint Select Committee (JSC) will do to their client’s specific interests, the more objective analysts seem to be split into three camps—just like they were in mid-August when the JSC was created by the Budget Control Act. In short, nobody knows what …

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Written by Steve Bell on Tuesday October 25, 2011

No Super Democrats On This Committee

How can we explain the Democrats who have been appointed to serve on the Joint Select Committee? (Commonly known as the 'Super Committee.') Let's play political "Jeopardy." Under Senate Democratic appointees to the Joint Select Committee on Deficit Reduction, for $200, "Her job is to elect …

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Written by Steve Bell on Wednesday August 10, 2011

IMF To Congress: Time For A Debt Deal

It may not be in the political self-interest of Congressional Democrats to pursue deficit reduction but the patience of markets and the IMF is being stretched by ongoing delays. Last evening, participants in the “Biden Budget Talks” leaked that the group seeks now $4 trillion in debt reduction …

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Written by Steve Bell on Friday June 17, 2011

Obama: I'll Cut $4 Trillion

In the President's speech on how he would reduce the deficit, he spent most of his time attacking the GOP budget. Full speech transcript here . 2:43pm: This didn't feel like a policy speech, even though it was sprinkled with policy ideas. The main focus and the meat of the speech came from …

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Written by Noah Kristula-Green on Wednesday April 13, 2011