Tags: budget deficit | reduction | tax cuts | Congress

Congress Loses Ardor for Deficit Reduction

Tuesday, 14 Sep 2010 01:58 PM

By Dan Weil

A few weeks ago, members of Congress on both sides of the aisle yelled about the need for deficit reduction. Those screams have been quieted, as Democrats and Republicans alike fight over what tax cuts to implement, The Hill reports.

budget deficit, reduction, tax cuts, CongressRepublicans favor extending Bush-era tax decreases for everyone, while the Democratic leadership wants to preserve them only for people with annual income of less than $200,000.

“They are both proposing to increase the deficit, not reduce the deficit,” Diane Lim Rogers, chief economist for the nonpartisan Concord Coalition, a budget watchdog, told The Hill. The deficit is forecast to hit $1.34 trillion for the year ending Sept. 30.

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved