Deficit | St. Louis Public Radio

Deficit

This article first appeared in the St. Louis Beacon, Nov. 22, 2011 - WASHINGTON - With the deficit "super committee" admitting defeat Monday, members of Congress played the blame game and maneuvered to anticipate the next moves in the efforts to reach a deal to reduce the federal budget deficit.

This article first appeared in the St. Louis Beacon, Nov. 7, 2011 - WASHINGTON - The clock is ticking on the "super committee" set by Congress with the task of coming up with a $1.2 trillion deficit-reduction plan by Thanksgiving.

Whether the panel's final days end in an alarming failure, a detonation of partisan countercharges or the wake-up call of a deal that Congress can pass by Christmas will be clear by the time turkeys are being carved later this month.

This article first appeared in the St. Louis Beacon, Oct. 26, 2011 - In the aftermath of the debt ceiling debacle last August, a bipartisan Super Committee of congressional leaders is now empaneled and hearing testimony about what to do with the budget deficit as well as fiscal policy.

President Obama: the deficit reduction plan

Sep 19, 2011
(UPI/Bill Greenblatt)

Thank you for joining us earlier this morning for the live webcast of President Obama's address on his deficit reduction plan.

For a summary of his address and more information, see this post from NPR's The Two-Way.

Earlier, we also posted The Two-Way's "Five things to know about Obama's deficit plan"

Five Things To Know About Obama's Deficit Plan

Sep 19, 2011

President Obama this morning outlines a deficit-reduction plan that his economists say would reduce anticipated federal budget deficits by about $4 trillion over the next decade.

Commentary: Too simple

Aug 14, 2011

This article first appeared in the St. Louis Beacon, Aug. 14, 2011 - As a graduate student, I learned the fallacy of ascribing a single cause to a political phenomenon. Multiple factors interact to produce such things as presidential popularity or adoption of a particular law. Yet, many elected officials and a large group of citizenry are taken with simple explanations of very complex phenomena.

This article first appeared in the St. Louis Beacon, Aug. 12, 2011 - Every one of the 12 seats on the new "super" Congress deficit committee has been filled. House Speaker Nancy Pelosi, D-Calif., made her selections Thursday.

This article first appeared in the St. Louis Beacon, Aug. 11, 2011 - WASHINGTON - In the midst of volatile stock-market swings and international questions about the U.S. government's ability to act, U.S. Sen. Mark Kirk, R-Ill., says it is time for members of Congress to scuttle their vacation plans and get back to work.

This article first appeared in the St. Louis Beacon, July 30, 2011 - WASHINGTON - With the hot air inside the Capitol surpassing the sweltering temperatures outside, the pink-jacketed lawmaker picked up the phone in her front office and answered with a crisp, "This is Claire McCaskill, can I help you?"

It took a minute to convince the St. Louis caller that the voice was, indeed, the senator, who then listened to a torrent of frustration about how Congress can't get its act together and solve the debt ceiling problem. "Believe me, you can't imagine how frustrating this is," sympathized McCaskill, D-Mo., explaining the impasse on Capitol Hill.

2011
Brent Jones | St. Louis Beacon archives

This article first appeared in the St. Louis Beacon, July 29, 2011 - WASHINGTON - All the sound and fury in Congress over paying what some call "the nation's credit card bill" raises two obvious questions: Who ran up the debt, and what were the biggest charges?

Given the government's budget surplus in 2000 -- and the fact that the administrations both of Presidents George W. Bush, a Republican, and Barack Obama, a Democrat, added to the debt during every year they were in office -- the blame falls on both parties, experts say.

This article first appeared in the St. Louis Beacon, July 28, 2011 - If he is inclined toward optimism about his political future, President Barack Obama may find comfort in the polls and in deficit-reduction proposals that have positioned him as a deficit hawk who seeks higher taxes for the wealthy, two key concerns of independent voters.

UPI/Bill Greenblatt

According to Mo. Sen. Roy Blunt the bipartisan “Gang of Six” plan to raise the debt ceiling and cut the deficit by $4 trillion is too complicated to agree on by the Aug. 2 deadline set by the Obama administration.

Speaking with reporters during a weekly conference call, Blunt said he might support a short- term solution to raise the debt limit in order to allow time for a broader plan to be implemented.

McCaskill: "Gang of Six" plan makes sense

Jul 20, 2011
UPI/Bill Greenblatt

Missouri Sen. Claire McCaskill says the bipartisan “Gang of Six” plan to steer the government away from a first-ever default on its financial obligations makes sense because it helps the deficit and lowers corporate and personal tax rates.

The democratic Senator attended the meeting on Capitol Hill Tues. where some 50 senators from both parties were briefed on the plan. McCaskill says most of the senators are excited about the compromise that was presented.

(Bill Greenblatt/UPI)

The U.S. Senate announced today that it will accept a bill from the House to fund government for an additional two weeks, averting a government shutdown on Friday.

The House had proposed a budget which cut $60 billion in federal spending, which Senate Democrats complained was too much.

Siding with his former House colleagues, Missouri Senator Roy Blunt said he sees little room for compromise when it comes to reducing the deficit.

Missouri's Senators Claire McCaskill and Roy Blunt agree that the president's proposal to cut the deficit does not go far enough.

President Barack Obama proposed a freeze in spending in his State of the Union speech last night.

McCaskill, a Democrat, says the president's spending cuts don't go far enough: