The congressional supercommittee seeking a long-term debt-reduction deal over at least $1.2 trillion in deficit cuts remains deadlocked over Democrats’ insistence on tax increases as a deadline for agreement nears.
Federal Reserve policy makers have publicly debated whether to maintain their bond-buying pace since well before Janet Yellen was named last month to succeed Chairman Ben S. Bernanke. One voice has been missing: Yellen’s.
The longer the Federal Reserve continues its bond-buying stimulus, the higher the odds it will face a year without any money to give the U.S. Treasury after taxpayers received a record $88.4 billion profit in 2012.
The Democratic Party’s tax-fairness campaign theme pits Senator Chuck Schumer of New York, among the chief architects of that message, against some of his most influential constituents and top campaign donors.