Tim Fernholz is a former staff writer for the Prospect. His work has been published by Newsweek, The New Republic, The Nation, The Guardian, and The Daily Beast. He is also a Research Fellow at the New America Foundation.
I'm surprised to see Howard Gleckman has a different interpretation of the Tax Policy Center's analysis of the fiscal commission's working paper than I did: "Paul Krugman & friends can rest easy. The Bowles-Simpson proposal is indeed an across-the-board tax increase-- and a fairly progressive one at that."
...what's that mean? Matt Labash, a writer at The Weekly Standard, the conservative magazine whose editor, William Kristol, kick-startedSarah Palin's national career, pilloried the Alaskan demagogue's new TLC show. A sampling:
Looking down the legislative schedule, nearly everyone recognizes that a vote expected this spring to raise the country's debt ceiling will be an opportunity for posturing from critics of government debt and a test of the GOP's ability to govern responsibly. Raising the debt limit will allow the government to borrow enough money to fund its operations. Putative Speaker John Boehner is already encountering problems as he maneuvers his caucus toward the vote.
Citizens for Responsibility and Ethics is known as a public-spirited organization that hunts for corruption in Washington. Today, its executive director, Melanie Sloan, announced that she was departing the organization to join the lobbying firm of Lanny Davis, the former Clinton White House counsel now best known for putting a liberal veneer on corporate policy and foreign dictators.
"A fiscal program that combines near-term measures to enhance growth with strong, confidence-inducing steps to reduce longer-term structural deficits would be an important complement to the policies of the Federal Reserve," Bernanke said, adding that the Fed is "nonpartisan" and does not support specific tax and spending programs.