Some political experts have said that Wisconsin Gov. Scott Walker, in a battle with public employee unions over the right to collective bargaining, has overreached in his attempts to shore up the state's budget shortfall.
This week, co-chairs Erskine Bowles and Alan Simpson issued their joint proposal for consideration by the full National Commission on Fiscal Responsibility and Reform. Their joint proposal represents a commendable, comprehensive, aggressive and good faith effort to address our nation's structural deficit. It recognizes the need for economic recovery now while addressing the structural deficits that represent the real threat to our collective future.
A $9 trillion federal deficit over 10 years may be too hard to comprehend. But this part is easy: Such unwieldy amounts of debt could have an impact on Americans' bottom line one way or the other -- if not tomorrow, then the day after.
Even under the best of economic circumstances, tax season is a tense time for American households. The number of hours we collectively spend working on our returns is probably a lot more than government agencies claim.
Let's say a giant asteroid was headed toward Earth right now and experts say it has a good chance of ending civilization as we know it. Let's also say that we've known about this asteroid for years but even as it gets closer and closer our leaders do nothing.
In his State of the Union address Wednesday evening, President Bush encouraged lawmakers "to join together to strengthen and save Social Security." But in making his case for why an overhaul is needed now, he may have overstated Social Security's problems.