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Budget Showdown Offers an Opportunity for Progress
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Christina Romer, former chairwoman of Obama's Council of Economic Advisors, puts forward a strategy to get deficit reduction and avoid the "fiscal cliff" of automatic cuts based on the Simpson-Bowles commission recommendations to reduce tax expenditures, deductions and loopholes. She says let Republicans in Congress determine where spending on infrastructure improvements should go as the needs are so diverse and widespread and this will get constructive input to improve the focus on vital areas. Earlier efforts on road building for stimuls spending were criticized for generating temporary work but not creating long term benefits and synergies.
The revival of Simpson-Bowles recommendations on deficit reduction in Nov.-Dec. 2012
09/26/2011
Both Republicans and Democrats now look to Simpson-Bowles as the basis of building an agreement that generates revenue by reducing loopholes, deductions and tax expenditures. Christina Romer, former chairwoman of Obama's Council of Economic Advisors's puts forward a strategy based on Simpson-Bowles in an op-ed in the NYT, Nov. 11, 2012. The "fiscal cliff" of automatic tax increases and spending cuts goes into effect on Jan. 1, in the absence of an agreement. The Romney plan and the proposal by Martin Feldstein on limiting tax deductions and loopholes for high income earners are a way to distribute the tax burden equitably.
Grouped Articles
Stimulus and the Depression: The Untold Story
Wall Street Journal 09/26/2011
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
The Cliff Is a Hard Place to Compromise
New York Times 11/10/2012
Democrats Like a Romney Idea to Cap Tax Deductions
New York Times 11/12/2012
Deluding Ourselves Over the Fiscal Cliff
New York Times 11/12/2012
Grover Norquist: Washington Enemy No. 1
Wall Street Journal 11/23/2012
Obama advisor, Christina Romer, and support for Simpson-Bowles recommendations on limiting deductions
11/10/2012
The Feldstein, Romney proposals based on the ideas of the Simpson Bowles Commission of limiting tax deductions finds convergence with Obama economic advisor, Christina Romer's support for Simpson Bowles recommendations after the 2012 presidential elections.
Linked Articles
Democrats Like a Romney Idea to Cap Tax Deductions
New York Times 11/12/2012
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
The dealmaking that is needed to build an agreement on deficit reduction- the challenge for Obama and Republicans
11/10/2012
The need for Obama and Republicans to build on proposals by Romer, Simpson-Bowles, Toomey, Hensarling, Feldstein, Romney Conrad and others to put dealmaking ahead of futile ideological battles. This would be good for the country and good for jobs and growth, good for building a strong middle class economy.
Linked Articles
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
New York Times 11/12/2012
Convergence of ideas on deficit reduction around Simpson-Bowles and limiting tax expenditures and deductions
11/17/2011
Limiting tax deductions, loopholes to say $35,000 for high income earners goes further than earlier proposals from Obama advisors to limit tax deductions to 28% in distributing the tax burden more equitably. Obama advisor, Christina Romer, and Romney advisor Feldstein, support limiting tax deductions in this way to help reduce the deficit, creating the basis for an agreement between Republicans and Democrats.
Linked Articles
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
GOP supercommittee members’ tax plan gives party an identity crisis - The Washington Post
Washington Post 11/17/2011
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