Ed Lorenzen News
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Republican presidential candidate Mitt Romney is preparing to release a more detailed plan to overhaul the tax code soon, said a person who attended a policy roundtable event with Romney in Washington yesterday.
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Vice President Joe Biden is focusing on possible spending cuts for military and federal workers’ pensions and programs including agriculture on the third day of bipartisan debt-reduction talks this week, said Representative Chris Van Hollen, who is part of the discussions.
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President Barack Obama said the U.S. has “a unique opportunity to do something big to tackle our deficit,” and that he opposes a short-term measure that would raise the country’s debt limit without addressing more basic fixes to the government’s finances.
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President Barack Obama said he opposes a deficit-cutting measure allowing for only a short-term increase in the U.S. debt limit as he called a meeting tomorrow with Republican and Democratic lawmakers to seek long-term fixes in the government’s finances.
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Senate Democratic Leader Harry Reid will appoint Senators Patty Murray of Washington, Max Baucus of Montana and John Kerry of Massachusetts to a special committee charged with finding $1.5 trillion in budget savings.
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Vice President Joe Biden said he and a group of U.S. lawmakers trying to hash out a deficit-reduction plan are determined to find $4 trillion in savings and prove to financial markets around the world that the government is serious about tackling the nation’s debt.
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President Barack Obama said the rising cost of Medicare and Medicaid is creating “huge problems” for the nation’s finances that must be dealt with “in a serious way.” He’s just not taking the first step.
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Members of Congress already are trying to weaken the new congressional supercommittee seeking a $1.5 trillion debt-reduction agreement.
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