Ahead of the Senate hearing on “Offshore Profit Shifting and the U.S. Tax Code,” I released a report reminding us that contrary to the perception created by these types of political spectacles, corporations pay a...
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- The Report Is Out: Deficit Commission Unveils Its 'Moment of T...
The Report Is Out: Deficit Commission Unveils Its 'Moment of Truth'
The White House deficit commission - a/k/a The National Commission on Fiscal Responsibility and Reform - has released its long-awaited report, with the title "The Moment of Truth." In the report's preamble, members sign on to an unusually blunt summary of the state of affairs:
After all the talk about debt and deficits, it is long past time for America’s leaders to put up or shut up. The era of debt denial is over, and there can be no turning back. We sign our names to this plan because we love our children, our grandchildren, and our country too much not to act while we still have the chance to secure a better future for all our fellow citizens.
Whether the love of the commission members for their grandchildren will be enough to garner the bipartisan support they're hoping for remains to be seen, though it seems all but certain that the Commission's recommendations will inspire the "heart-wrenching media assaults" by "countless advocacy groups and special interests" that they've already predicted. Initial reaction by John Merline of AOL News here.
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