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.
Republican Representative Charlie Bass was among only 38 U.S. House members who voted in March for a deficit-cutting measure based on a proposal by the leaders of President Barack Obama’s Simpson-Bowles commission.
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.
Wall Street executives who lost a bet that Republican Mitt Romney would defeat President Barack Obama are bracing for tougher regulation and hoping a deal can be struck with Congress to cut the deficit.
Facebook Inc., the world’s most popular social-networking service, named Erskine Bowles, a member of former President Bill Clinton’s administration, as a director, expanding the board to seven members.