Posts Tagged ‘super committee’

Five Reasons Why the Deficit Super Committee Failed

To the surprise of few, Congress’ super committee is on the brink of failure–unable to agree on $1.2 trillion in budget savings as required by last summer’s debt limit deal. But the panel was doomed from the start. Here are five reasons why: The parties could not bridge their theological differences. Mainstream Democrats believe government should play an important role in the […]

A 20 Percent Tax Rate Cut Would Blow a Huge Hole in the Budget

In the back-and-forth over deficit reduction on Capitol Hill, Republicans have floated the idea of cutting individual tax rates by 20 percent across the board. There is much more to their plan: Crucially, they’d also trim tax subsidies. However, they don’t say how, so my colleagues at the Tax Policy Center looked only at what […]

What the Great Budget Debate Is Really About

Want to know what the Great Budget Debate of 2011 is really about? Ask Congressional Budget Office director Doug Elmendorf (who was a Tax Policy Center associate before joining CBO). In testimony to Congress’s  fiscal super committee on Tuesday, Doug put the whole thing into a few simple sentences: “I think really the fundamental question…is…where […]