Latest In

Breaking News

Reid comments on the bipartisan debt commission’s draft proposal

Senate Majority Leader Harry Reid (D-Nev.) has issued a statement regarding the chairman’s mark released by the bipartisan deficit reduction commission

Jul 31, 2020
1.3K Shares
1.3M Views
Senate Majority Leader Harry Reid (D-Nev.) has issued a statement regarding the chairman’s mark released by the bipartisan deficit reduction commission yesterday, and — at least in relation to the reactions of the majority of his Democratic colleagues — his take seems decidedly positive.
“I thank the leaders of the bipartisan debt commission for their work,” reads the majority leader’s statement. “While I don’t agree with every one of their recommendations, what they have provided is a starting point for this important discussion. I look forward to the full commission’s recommendations and to working with my colleagues on both sides of the aisle to address this important issue.”
Compared to House Speaker Nancy Pelosi (“simply unacceptable”), AFSCME President Gerald W. McEnee (“unnecessary and dangerous”) and MoveOn.org (“horrible”), that’s pretty glowing praise. The mark, which is not necessarily the same thing at the recommendations that the commission will deliver in December but is essentially being treated as such, has plenty in it to upset liberals — proposed cuts to federal spending, including big overhauls of Social Security and Medicare, that outweigh proposed new mechanisms for raising revenue by a ratio of about 3 to 1 — so it makes sense that many liberals are incensed. But, then again, a lot of conservatives, who don’t want to increase taxes by a dime, aren’t happy with the idea at all either.
The question then becomes whether any politicians might be willing to get behind a proposal to reduce the deficit that’s being pilloried by both sides, and, for all the current popular agitation about deficits, whether any voters would actually reward politicians who step forward to raise their taxes and slash their benefits. Recent political history doesn’t indicate there’s anything to be gained politically by saying good things about the current proposal, but there’s always a chance, I suppose, of that history being proven wrong.
Camilo Wood

Camilo Wood

Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Latest Articles
Popular Articles