By Erik Wasson – Deficit-reduction proposals from Speaker John Boehner (R-Ohio) and President Obama fall short of clearly stabilizing the debt, according to budget experts, putting the U.S. credit rating at risk of a downgrade.
While some suggest new talks between Obama and Boehner suggest a deal is in reach, they have doubts it will be big enough to meaningfully reduce deficits — or satisfy credit rating agencies.
“More is going to have to be done. I’m actually getting a bit more optimistic that a fiscal-cliff deal will get done, but at the same time I’m less optimistic that a ‘grand bargain’ will be achieved,” Bob Bixby of the Concord Coalition said. “The real issue is where everything ends up as a percentage of GDP.” more> http://tinyurl.com/a7wek82
- Viewpoints: On fiscal cliff, Obama must lay foundation for ‘the conversation’ (sacbee.com)
- Obama: Give Me Debt Ceiling Power Or I’ll Veto My Own Tax Proposal (freedomoutpost.com)
- Spotlight not pointed at Cantor, Molly K. Hooper, Hill
- Obama and Boehner seem to get along fine; politics is the problem, Kathleen Hennessey and Melanie Mason, latimes.com
- U.S. “fiscal cliff” talks picking up pace, Richard Cowan, Reuters
- “Fiscal cliff” outcome still uncertain; talks continue, Fred Barbash, Reuters