You may have noticed that those weeks of tedious Washington debate about “sequestration” are finally having an effect: The Federal Aviation Administration is furloughing its air-traffic controllers, causing delays at some of the nation’s busiest airports.
Erskine Bowles and Alan Simpson, the deficit-reduction duo, are trying to rekindle congressional interest in a $2.5 trillion package of spending cuts and tax increases with new details showing how it could work.
Rolls-Royce Holdings Plc was an average of 160 days late last year in delivering equipment needed for the U.S. Marine Corps version of the F-35 fighter to hover and land like a helicopter, according to the Pentagon.
For years, Erskine Bowles and Alan Simpson pulled off a very unusual and very difficult trick: They managed to position themselves firmly in the political center even as their budget proposal was far beyond the boundaries of what either party was proposing.
The leaders of President Barack Obama’s 2010 deficit commission offered a $2.4 trillion plan to reduce the debt as Congress approaches a March 1 deadline for averting across-the-board federal spending cuts.
Erskine Bowles and Alan Simpson, the indefatigable odd couple of U.S. fiscal policy, are at it again, offering their third deficit-cutting plan in four years. You’ve got to admire their effort, if not their success rate.
President Barack Obama “walked away” from his bipartisan U.S. deficit-cutting commission’s plan “because he knew he’d be torn to bits,” said former Republican Senator Alan Simpson, who was co-chairman of the panel.