deficit reduction

Riots vs. Jobs

There are riots in Greece.  The economies of Britain, Italy and Spain are not bouncing back from the Great Recession like they did after the Great Depression. Why?  Because the governments in these countries opted for austerity and deficit reduction instead of investing in jobs as a way out of the recession.…

Raising revenue OK with SC Republicans

Thank goodness South Carolina Representative James Clyburn is on the Super Committee otherwise the results of a recent poll might not get to his fellow Committee members. A just released Winthrop University poll has found that 73.2% of South Carolina Republican or Republican-leaning voters receiving Social Security or Medicare do not…

Report: Majority of Congress with no education in business

The Hill 8/23/11 By Mike Lillis Almost 80 percent of lawmakers have no academic background in business or economics, even as Congress grapples with deficits, unemployment and other economic issues of tremendous complexity, according to an independent analysis released Tuesday. The Employment Policies Institute (EPI) found that only 8.4 percent…

Illinois Dems weigh in on job creation and deficit reduction

With all the national attention being focused on the nation’s lack of jobs and deficit reduction, this week two Illinois U.S. House members put forward their plans to help the country.  Both have some great ideas. Yesterday, Representative Mike Quigley released his 60-step blueprint he hopes the new Congressional deficit…

Debt Ceiling Deal

Below is a statement on the debt ceiling deal from Citizens for Tax Justice released 8-2-11.—————————————————————————————————- President Obama Breaks His Promise on Taxes Again The so-called “Budget Control Act” that President Obama signed into law today to increase the federal debt ceiling and reduce the federal budget deficit marks the second…

‘Shared sacrifice’ in debt reduction should include international tax loopholes

By Rep. Lloyd Doggett (D-Texas)  The Hill’s Congress BlogJuly 26, 2011 As Washington considers solutions to our debt crisis, I believe a fundamental principle — before we consider cutting vital programs or raising tax rates—is ensuring everyone pays their fair share. I always find it impossible to explain why a…

Don’t talk about it….do it

Last night we heard from President Obama and Speaker Boehner about their ideas for addressing deficit reduction and raising the debt ceiling. The President spoke about the need to close corporate tax loopholes and end offshore tax haven abuse—issues that you have heard me talk about many times. Unfortunately, neither deficit…