http://www.cnn.com/2012/10/28/opinio...html?hpt=hp_c2
Obama's deficit plan closer to what CEOs favor
What's surprising is that the CEOs' commitment to a balanced bipartisan plan puts them much closer to Obama's deficit reduction plan than to Mitt Romney's.
That's because it also dovetails with the outlines of the Grand Bargain negotiated by Obama and House Speaker John Boehner in the summer of 2011, only to have negotiations fall apart.
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Mitt Romney has repeatedly and specifically said that he will not consider any plan that raises any increased tax revenue to pay down the deficit and the debt. During the Republican primaries, he famously joined with his competitors in raising his hand to say that he would reject even a 10-to-1 deal splitting spending cuts with tax revenue increases. The Bowles-Simpson plan was based on an even less generous 3-to-1 split (though of course, still weighted decidedly in favor of spending cuts).
This is not an academic difference. It goes to the heart of what kind of deficit reduction can be realistically achieved as a matter of both politics and math. A plan that does not include any new revenues is not practical in terms of achieving the larger goal. "When you talk about a $16 trillion debt, I don't see how you can avoid addressing both sides" -- both spending cuts and revenue increases -- said AT&T CEO Randall Stephenson, sensibly. An imbalanced and ideologically pure solution without any revenue increases would be DOA with Democrats in the Senate.
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