1. Opinion

    Former Debt Chiefs: More Work Needed

    WASHINGTON, DC - AUGUST 02: Senate Budget Committee Chairman Sen. Kent Conrad (D-ND) stands outside of the U.S. Capitol on August 2, 2011 in Washington, DC. Yesterday the House of Representatives passed the bill to raise the federal debt limit, and the U.S. Senate will later vote today on an agreement to extend the federal debt limit and enact spending cuts.  (Photo by Mark Wilson/Getty Images)

    Mark Wilson

    The deficit-reduction deal isn’t a "solution,” it’s “just a step forward,” Erksine Bowles and Alan Simpson, the former co-chairs of the National Commission on Fiscal Responsibility and Reform, write in The New York Times. The $2.1 trillion in reductions is half of what the country needs—and cuts to Medicare, Medicaid, and Social Security as well as tax reform are necessary, they argue. “The tax code is riddled with annual tax breaks amounting to $1 trillion—most of which are just government spending in disguise.”

    Read it at The New York Times