Related Content: deficit

Super Committee Struggles With Deficit Endgame

On The Radar

“It’s tougher than you think,” said Rep. Xavier Becerra, a Democrat from California, as he exited another super committee meeting Thursday afternoon. The good news was that lawmakers were still talking as a Nov. 23 deadline approached. The bad news was that Democrats were huddled with themselves in the Capitol and not with the opposing party, while Republicans were dug in elsewhere. Each side taunted the other across acres of cold marble, quarreling about the meaning of “balance” when it comes to $1.2 trillion in future deficit reduction.

Deficit Deal a Moving Target

On The Radar

With time running out for Congress's special deficit-reduction committee, the two sides Monday were grappling for ways to inch closer on the crucial issue of taxes.   The parties are looking for ways to include smaller tax increases than Democrats had previously sought but more than Republicans want. In addition, Democrats last week proposed keeping upper-income tax rates at 35%, the level set in the Bush-era tax cuts.

Panel Is at Impasse, but Obama Sees No Reason to Step In

On The Radar

The White House’s expectations for the special Congressional committee on deficit reduction, never high, have been all but dashed now that the panel has reached a partisan impasse less than two weeks before it is supposed to recommend a compromise plan.

Supercommittee must not ‘fail the country,’ Bowles says, offering his own plan

On The Radar

Erskine Bowles, the former White House chief of staff who has worked for months to tame the national debt, bluntly warned members of a congressional panel Tuesday that they will “fail the country” if they do not break the impasse over taxes that is blocking a far-reaching agreement.

Super Committee & the Budget Debate

On The Radar

The Super Committee is just weeks away from having to decide on a massive new budget plan. CNBC's John Harwood has the details on whether Europe's deal has put more pressure on Congress to follow suit.

Congress' dysfunction long in the making

On The Radar

Why does Congress barely function today? The legislative branch of the world's most powerful nation is now widely scorned as it lurches from one near-catastrophe to the next, even on supposedly routine matters such as setting an annual budget and keeping government offices open.

PBS NewsHour: Obama's Deficit Plan Hits Opposition on Hill, But Frames 2012 Fight

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President Obama on Monday called for $1.5 trillion in new taxes aimed at wealthy Americans as part of a plan to reduce the deficit by $3 trillion over 10 years. Gwen Ifill discusses the proposal with Phillip Swagel of the American Enterprise Institute and Robert Greenstein of the Center on Budget and Policy Priorities.

PBS NewsHour: Political Checklist: GOP Calls Obama's Deficit-Reduction Plan 'Class Warfare'

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President Obama on Monday unveiled his new recommendations to the Joint Select Committee on deficit reduction -- a $3 trillion, 10-year package that would increase taxes on the wealthy and make some changes to entitlement programs. President Obama also said he would veto any plan that comes from the committee, also known as the super committee, that does not include tax increases as part of the deficit-reduction formula.

Gwen Ifill and David Chalian sort out the politics behind what is likely to be among the major campaign issues in 2012: jobs, spending and the economy. Gwen and David also take a look at Florida's importance in the GOP primary as well as the general election. The Republican candidates will face off in another debate this week in Orlando.

September 23, 2011

Weekly Show

President Obama unveils his deficit reduction plan, with new taxes and spending cuts. Plus, Congress argues over disaster relief and a possible government shutdown. Also, Palestinians appeal for full membership at the UN. And the GOP presidential candidates debate. Joining Gwen: Christi Parson, Tribune Newspapers; John Harwood, CNBC/New York Times; Karen Tumulty, Washington Post; Susan Davis, National Journal.
 

December 22, 1995

Weekly Show

The 1995 budget talks between President Bill Clinton and the Republican-controlled Congress over how to reduce America’s spiraling deficit ended in political deadlock and a partial government shutdown. Republicans were demanding deep cuts in taxes and spending including Medicare; President Clinton wanted smaller cuts in spending and none at all in taxes. Sound familiar?