Simpson-Bowles Redux

Are you ready for another bite at the Simpson-Bowles apple? The deficit cutting duo whose recommendations were rejected by the president who asked them to come up with a bi-partisan solution to the deficit problem have re-emerged just weeks before the sequester deadline with a new "Grand Bargain." Wall Street Journal: Messrs. Simpson and Bowles co-chaired the White House's 2010 deficit-reduction panel, which put together a bipartisan package of tax and spending changes that fell flat after the administration and congressional leaders took a look. They will try once again on Tuesday, at a time when Washington budget talks have entered a particularly frosty period. Republicans and Democrats say they want to reduce the federal budget deficit but are far apart on how and by how much. Many lawmakers left Washington late last week for recess this week, having made little progress in talks to avert roughly $85 billion in federal spending cuts scheduled to begin March 1. These cuts will run...(Read Full Post)