WASHINGTON (Reuters) – Two senators pledged on Monday to offer bipartisan legislation next year that reflected proposals to slash the federal budget deficit submitted this month by a presidential commission.

“Taking the commission’s report … we’ll be introducing that as legislation, a legislative vehicle, next year, recognizing in the process that a lot of that would be subject to change,” Democratic Senator Mark Warner said.

WASHINGTON (Reuters) – The $858 billion tax deal approved by Congress on Thursday is “all candy and no spinach,” but at least it shows that President Barack Obama and Republicans can cooperate on fiscal issues.

But their new detente will be tested early next year when the budget deficit looms larger on the political landscape. Analysts are skeptical this week’s pact can be leveraged into a broad deficit-cutting program, and fear the deficit issue could be kicked forward to the 2012 election.

WASHINGTON (Reuters) – The $858 billion tax deal approved by Congress on Thursday is “all candy and no spinach,” but at least it shows that President Barack Obama and Republicans can cooperate on fiscal issues.

But their new detente will be tested early next year when the budget deficit looms larger on the political landscape. Analysts are skeptical this week’s pact can be leveraged into a broad deficit-cutting program, and fear the deficit issue could be kicked forward to the 2012 election.

WASHINGTON, Dec 3 (Reuters) – A bold plan to slash the U.S.
budget deficit fell short on Friday of winning the support
needed to trigger legislative action in Congress, shifting the
fiscal responsibility issue to the White House and lawmakers.

The outcome was a sour note, coming the same day the
government said the U.S. unemployment rate jumped to 9.8
percent and as both Democrats and Republicans battled over
expiring tax cuts that, if extended, will only add to the
deficit.

WASHINGTON, Dec 2 (Reuters) – A bold plan to slash the U.S.
budget deficit appeared on Thursday to be falling short of the
support needed from members of a presidential commission to
trigger congressional action.

But the plan had won more backing, from Democrats and
Republicans, than many expected in February when President
Barack Obama set up the commission with the task of finding
ways to cut the $1.3 trillion deficit and $13.8 trillion debt.

WASHINGTON (Reuters) – A bold plan to slash the budget deficit appeared on Thursday to be falling short of the support needed from members of a presidential commission to trigger congressional action.

But the plan had won more backing, from Democrats and Republicans, than many expected in February when President Barack Obama set up the commission with the task of finding ways to cut the $1.3 trillion deficit and $13.8 trillion debt.

WASHINGTON (Reuters) – Republican lawmakers on Thursday met with a senior Federal Reserve official who opposes the central bank’s easy money policies to discuss stripping the Fed of its task of ensuring full employment.

After the meeting with Kansas City Federal Reserve Bank President Thomas Hoenig, the No. 3 Republican in the House of Representatives, Mike Pence, told reporters he continues to think the Fed should focus solely on fighting inflation.

WASHINGTON (Reuters) – Two more lawmakers pledged on Thursday to support a plan to slash the U.S. budget deficit drawn up by the co-chairmen of a presidential commission, but the plan still faced long odds of moving to Congress.

With anxiety over government debt roiling markets in Europe and driving global capital into U.S. Treasury bonds, Republican Senators Tom Coburn and Mike Crapo said they will vote for the bold proposal at a decisive commission meeting on Friday.

WASHINGTON, Dec 2 (Reuters) – Two more lawmakers pledged on
Thursday to support a plan to slash the U.S. budget deficit
drawn up by the co-chairmen of a presidential commission, but
the plan still faced long odds of moving to Congress.

With anxiety over government debt roiling markets in Europe
and driving global capital into U.S. Treasury bonds, Republican
Senators Tom Coburn and Mike Crapo said they will vote for the
bold proposal at a decisive commission meeting on Friday.

WASHINGTON, Dec 1 (Reuters) – A presidential panel on
balancing the U.S. budget on Wednesday revised its fiscal
austerity plan with deeper spending cuts and a more flexible
tax code overhaul, hoping to draw broader political support.

The 18-member commission, established in February by
President Barack Obama, discussed its revised plan at a public
meeting on Capitol Hill. The panel is due to vote on it on
Friday, two days later than originally scheduled.