SMRs and AMRs

Monday, November 29, 2010

Liberal Groups to Propose Routes to Smaller Deficit

By JACKIE CALMES
NYT

WASHINGTON — As President Obama’s fiscal commission faces a deadline this week for agreement on a plan to shrink the mounting national debt, liberal organizations will unveil debt-reduction proposals of their own in the next two days, seeking to sway the debate in favor of fewer reductions in domestic spending, more cuts in the military and higher taxes for the wealthy.

The proposals from two sets of liberal advocacy groups highlight the deep ideological divides surrounding efforts to deal with the nation’s budgetary imbalances, even as Mr. Obama’s bipartisan commission works to finalize its recommendations by Wednesday — and struggles for a formula that would get the backing of at least 14 of its 18 members, the threshold for sending its proposal to Congress for a vote.

Inside the commission, expectations remain low that a supermajority can agree on a plan, given most Republicans’ opposition to raising taxes and most Democrats’ resistance to deep spending cuts and reducing future retirees’ Social Security benefits.

Yet the panel’s proponents hope that agreement among even a bipartisan minority can be the basis for future action to arrest the unsustainable growth of government debt in coming years.

(More here.)

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