Politics
Senators Start ‘In The Middle’ With Deficit Talks
Loading ...Americans’ paychecks will be a little bigger this month, thanks to a temporary cut in payroll taxes. More take-home pay for workers, though, means less revenue for the government and a bigger federal deficit.
President Obama has promised to start a conversation on reducing the deficit as soon as the new Congress is sworn in this week. It won’t be an easy discussion, but Obama does have some allies in the U.S. Senate.
There’s a small, bipartisan group of senators who insist they’re ready to make the “difficult choices” Obama has said need to be made to tackle the deficit.
Virginia Democrat Sen. Mark Warner sees trillion-dollar deficits as a ticking time bomb. Better to defuse them voluntarily, he says, than risk an explosion as government creditors get nervous.
“It’s not a question of if we’re going to address this issue. It’s a question of when. And I think our sense was, we ought to try to do this on our timelines and not have it dictated by the financial markets,” he says.
Continue Reading at NPR.
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