- NYT’s David Brooks: Obama has ‘manhood problem’ in Middle East
- Ted Cruz thanks Obama for denying visas to terrorists
- Survivors recall chaos, fear in Everest avalanche
- General Mills apologizes for ‘right to sue’ confusion, reverses policy
- Dealer wanted in U.S. for art fraud nabbed in Spain
- Easter morning delivery for space station
- Boxer Rubin ‘Hurricane’ Carter dies at 76
- Probe could complicate Rick Perry’s prospects
- Ukraine, Russia trade blame for eastern shootout
- Obamas head to church on Easter morning
Women losing coverage under Obamacare, too
Topic - Douglas W. Elmendorf
Congress' chief scorekeeper warned Wednesday that the country's top lawmakers can't continue to put off big decisions on the budget and the economy much longer, and said either path — belt-tightening now or even deeper cuts later — will be painful.
The bipartisan supercommittee's proposal for addressing the nation's debt woes is due two weeks from Wednesday, but the panel already has hit a deadline that Congress' official scorekeeper says should be met to ensure the numbers add up.
The congressional debt-reduction panel met publicly for the first time in more than a month Wednesday but offered little public evidence of making progress as the clock ticks toward a Thanksgiving deadline.
Congress' chief scorekeeper effectively shortened the window for the new deficit supercommittee to reach a deal, saying Tuesday that if lawmakers are going to meet their Thanksgiving deadline, his office will need to see an agreement at the beginning of November.
Congress' official scorekeeper said Tuesday that the United States will continue to see slow economic growth for the next several years as job openings and a lack of demand for goods and services continue to block a speedier rebound.
A full, permanent extension of the Bush tax cuts could help the economy grow by nearly 2 percent more next year — and would be a bigger boost than just a partial extension, Congress' chief scorekeeper said Tuesday.
President Obama's agenda has so overloaded Congress that its legislative gatekeepers - the analysts who score each bill and the auditors who weed out waste and fraud - can't keep up.
"We missed the extent to which this recovery was very slow," says Mr. Elmendorf.
"Such large and growing federal debt could have serious negative consequences," says CBO Director Douglas W. Elmendorf, "including restraining economic growth in the long term, giving policymakers less flexibility to respond to unexpected challenges, and eventually increasing the risk of a fiscal crisis (in which investors would demand high interest rates to buy the government's debt)."