Tag Archives: spending cuts

Corker says no worries about fiscal cliff

Sen. Bob Corker, R-Tennessee, said today the economy won’t tumble over the fiscal cliff, despite all the gloom and doom talk coming from Washington.

Corker told CNBC the expiration of the Bush tax cuts at the end of the year, followed by automatic spending cuts “is just simply not going to happen.”

He didn’t explain exactly how the government would avoid the cliff, but suggested the debt ceiling is a more important issue.

Click here for more fiscal cliff coverage by CNBC.

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Column on Reagan tax legacy draws fire and support

News Sentinel readers posted some interesting comments on my Sunday column looking at
RONALD+REAGAN.jpghow President Ronald Reagan raised taxes to solve the budget crisis of the 1980s.

For a change, no one directly questioned my sanity.

I appreciate all of those who shared their opinion, although obviously not everyone agreed with my assertion that it will take both spending cuts and tax increases to solve the current budget crisis.

In case you missed it, here’s a link to the column. The comments are definitely worth reading.

 

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What Rep. Ryan doesn’t want you to know

Despite the constant drumbeat from  Republican budget committee chairman Rep. Paul Ryan and others about how tax hikes will hurt the economy, America’s business leaders know better.

The Committee for Economic Development, a nonprofit, nonpartisan group of business executives and education leaders, today issued a statement urging Washington to consider both tax increases and spending cuts to get the federal deficit under control.

More than 100 top current and retired corporate execs signed the CED statement, including William Donaldson, Chairman, Donaldson Enterprises and former Chairman, U.S. Securities and Exchange Commission; Peter Peterson, a co-founder of The Blackstone Group; Michael G. Morris, Chairman, President and CEO, American Electric Power Co.; Edward B. Rust, Jr., Chairman and CEO, State Farm Insurance Companies; and George Conrades, Executive Chairman of Akamai Technologies Inc.

CED statement: Business Statement on the Nation’s Fiscal Health

List of endorsers

Forbes: Execs say deficit fix should include tax hikes as well as spending cuts