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Sep 20, 2011

US budget panel heads to the library for some privacy

WASHINGTON, Sept 20 (Reuters) – If location means anything,
the congressional “super committee” trying to attack the United
States’ budget ills appears to be isolating itself from public
scrutiny so that it can start thinking big thoughts.

For its second closed-door meeting in a week, the 12
Democrats and Republicans searching for at least $1.2 trillion
in savings are gathering in a secluded location — the Library
of Congress across the street from the Capitol.

Sep 19, 2011

Analysis: Obama leaves big reforms off deficit table

WASHINGTON (Reuters) – President Barack Obama’s debt plan avoids making the changes to massive government social programs that economists, budget experts and the president himself say are needed to achieve long-term fiscal stability.

Critics are calling Obama’s $3.6 trillion proposal to the congressional “super committee” on deficit reduction little more than a political paper that sets the stage for a 2012 election-year battle over the future of popular healthcare and retirement programs.

Sep 19, 2011

Obama leaves big reforms off deficit table

WASHINGTON (Reuters) – President Barack Obama’s debt plan avoids making the changes to massive government social programs that economists, budget experts and the president himself say are needed to achieve long-term fiscal stability.

Critics are calling Obama’s $3.6 trillion proposal to the congressional “super committee” on deficit reduction little more than a political paper that sets the stage for a 2012 election-year battle over the future of popular healthcare and retirement programs.

Sep 13, 2011

Congress budget agency lowers economic outlook

WASHINGTON (Reuters) – The economic outlook is gloomy and any drastic action could make things worse, according to testimony Tuesday before a congressional ‘super committee” trying to cut the federal deficit.

The Congressional Budget Office — the non-partisan budget and economic analyst for Congress — said economic growth would slow from previous estimates and a nagging, 9.1 percent jobless rate would basically remain stuck there through next year’s presidential and congressional elections.

Sep 9, 2011

Obama jobs plan could complicate deficit panel work

WASHINGTON (Reuters) – A new deficit-reduction “super committee” in the U.S. Congress, already split over tax and spending policies, has a new worry — how to pay for President Barack Obama’s jobs plan if lawmakers embrace it.

In promising to a joint session of Congress on Thursday that the $447 billion initiative he unveiled would not add to already bloated government budget deficits, Obama in effect raised the bar for the special committee that is struggling to find at least $1.2 trillion in savings over 10 years.

Sep 8, 2011

U.S. debt panel meets for first time, vow compromise

WASHINGTON (Reuters) – Members of a congressional “super committee,” charged with finding at least $1.2 trillion in new deficit reductions, vowed to help get America’s fiscal house in order when they met for the first time on Thursday.

The panel of 12 congressional Democrats and Republicans acknowledged they had a tough road ahead of them and must keep open minds to reach an agreement. They used the opening meeting to make brief statements and set rules for operating,

Sep 7, 2011

Q+A: Will debt panel tackle Medicare, Social Security?

WASHINGTON (Reuters) – A new congressional “super committee” will face tough choices on politically popular government health and retirement programs as it tries to draft a plan to reduce deficits by at least $1.2 trillion over a decade.

The panel has until November 23 to make recommendations that the Senate and House of Representatives are to vote on by December 23.

Sep 7, 2011

Q+A-Will U.S. debt panel tackle Medicare, Social Security?

WASHINGTON, Sept 7 (Reuters) – A new congressional “super
committee” will face tough choices on politically popular
government health and retirement programs as it tries to draft
a plan to reduce deficits by at least $1.2 trillion over a
decade.

The panel has until Nov. 23 to make recommendations that
the Senate and House of Representatives are to vote on by Dec.r
23. [ID:nN1E7860L5]

Aug 17, 2011

Whipping up a U.S. deficit plan is no easy task

WASHINGTON, Aug 17 (Reuters) – Over the next few weeks a
new congressional “super committee” will be working through a
number of well-known proposals to develop what could be a
far-reaching U.S. deficit reduction plan and that will be
offered up to Congress on a fast track.

The 12 members from the Senate and House of Representatives
appointed to the panel will work through a mixture of spending
cuts and tax increases to develop the package before Nov. 23.
Congress will have a month to accept or reject it.

Aug 13, 2011

Glimmers of hope for U.S. deficit-cutting panel

WASHINGTON (Reuters) – Having said no to taxes for months, Republicans now are saying maybe, in the face of public disgust over a deadlock in the U.S. Congress, a near government default and a worsening global economic crisis.

Prompting some hope for a return to fiscal order are the statements and reputations of some of the six Republicans named this week to join with six Democrats on a special committee to end the standoff over the U.S. deficit.

    • About Donna

      "Washington congressional correspondent specializing in economics, taxes and budget issues. Covered the healthcare reform legislation and President George W. Bush's push to overhaul Social Security. Also covered the savings and loan crisis and spent time covering the White House during President Bill Clinton's administration. Covered trade and Federal Reserve policy as well."
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