Items Tagged with 'budget debate'


  • Nation's Largest Banks Speak Out on Debt Ceiling

    The CEO's of the nation's largest banks have sent a letter to President Obama and members of Congress urging them to take action this week on resolving the debt ceiling crises. Concerned that the current deadlock could lead to in action, the letter suggests that the resulting impacts would deeply threaten the economy, still struggling job market and over all economy. "Our economic recovery remains very fragile,"  the letter stated.  "A default on our Nation’s obligations, or a downgrade of America’s credit rating, would be a tremendous blow to business and investor confidence – raising interest rates for everyone
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  • Senators Draw Social Security into Budget Debate

    According to a report in the Wall Street Journal, three Democratic senators are breaking ranks over including Social Security changes in the debate with Republicans over deficit-reduction packages.  Although no budget savings are proposed in changes, some Democrats believe they can secure concessions from some Republicans on tax increases if they include changes to Social Security.   The perpetrators of the plan are a so called, "Gang of Six", that includes Democrats, Mark Warner (VA), Kent Conrad (ND) and Richard Durbin (IL); and Republicans, Saxby Chambliss (GA), Tom Coburn (OK) and Mike Crapo (ID).  While the leadership seeks no
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