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Deficit Battle Shifts to Panel

Wall Street Journal Original article ›

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With the passage of debt ceiling legislation the focus turns to the super-committee that will have to come up with $1.2 trillion in savings for deficit reduction. Six Republicans and six Democrats will be selected in the next 2 weeks and are required to come up with proposals by November 23, 2011.

The Balanced Budget Amendment in the U.S. Congress in August 2011

07/14/2011

Critics say the balanced budget amendment would prevent the use of countercyclical policies in a downturn like the present one facing the U.S. economy. Because of the tendency of politicians to avoid difficult decisions and "kick the can down the road," it serves to focus attention on making the cuts in spending, including tax expenditures, that can help reduce the deficit to sustainable levels.

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Deficit Battle Shifts to Panel

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Why Democrats Are Dug in on Shutdown Impasse

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