Deficit Talks Break Down on Capitol Hill
So much for another attempt at bipartisan negotiations. Vice President Joe Biden saw his bid to get both sides talking about ways to deal with the deficit come to a halt on Thursday after all two of the GOP participants cited talk of tax increases as their reason for bowing out.
So much for another attempt at bipartisan negotiations. Vice President Joe Biden saw his bid to get both sides talking about ways to deal with the deficit come to a halt on Thursday after all two of the GOP participants cited talk of tax increases as their reason for bowing out. –KA
WAIT, BEFORE YOU GO…Political Hotsheet on CBS News:
Democrats meanwhile, suggested Republicans are “playing with fire” by holding up a vote on raising the debt ceiling.
House Majority Leader Eric Cantor announced this morning that he would skip today’s scheduled meeting because “Democrats continue to insist that any deal must include tax increases.”
Subsequently, Republican Sen. Jon Kyl of Arizona announced he was pulling out of the negotiations. Kyl and Senate Minority Leader Mitch McConnell released a statement saying, “The White House and Democrats are insisting on job-killing tax hikes and new spending. That proposal won’t address our fiscal crisis, our jobs crisis, or protect and reform entitlements.”
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Opinion
A recent editorial about the budget deficit echoes the board's claim during the 1980s that the “right minimum wage” is $0.00.
The former mayor of South Bend, Indiana, draws fire for claiming it's "not fashionable in progressive circles" to talk about the deficit.
Deficits averaging 4.8% of GDP are foreseen over the course of the coming decade; experts say anything above 3% is unsustainable.
Mitch McConnell can blame Social Security and Medicare all he wants, but Republican tax cuts are what's causing our debt to soar.
There are currently no responses to this article.
Be the first to respond.