1962 1968 1974 1980 1986 1992 1998 2004 2010 Debt limit to gov. receipts nd Source: OMB, BEA, J.P. Morgan Private Bank Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been raised up the flagpole and then lowered. By the end of the process, we’re stil

e caveat that many plans are not crystal clear what baseline they are using, or what steps they recommend to get to that baseline first. For example: the Gang of Six state that they used the President’s budget as a baseline (scored by CBO in March 2011), reduced deficits by $3.7 trillion, and ended up with a 71% d

pts 30% —> 2x 20% 1x 1950 1956 1962 1968 1974 1980 1986 1992 1998 2004 2010 Source: OMB, BEA, J.P. Morgan Private Bank. Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been raised up the flagpole and then lowered. By the end of the process, we’re stil

pact 31 million filers in 2012 (and raise $132 billion in revenue), compared to 4 million filers in 2011 (and $39 billion in revenue). * For example: the Gang of Six state that they used the President’s budget as a baseline (scored by CBO in March 201 1), reduced deficits by $3.7 trillion, and ended up with a 71%

e caveat that many plans are not crystal clear what baseline they are using, or what steps they recommend to get to that baseline first. For example: the Gang of Six state that they used the President's budget as a baseline (scored by CBO in March 2011), reduced deficits by $3.7 trillion, and ended up with a 71% d

islation is a rocky but healthy way for a democracy to decide whether mega-deficits are in the long-term public interest. Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been raised up the flagpole and then lowered. By the end of the process, we're stil

modest tax hikes, entitlement reforms, and spending cuts. A fourth group, consisting of three Republicans and three Democrats in the Senate, dubbed the Gang of Six, ended up torpedoing the Obama-Boehner negotiations when it came to light that they were negotiating a plan to raise far more revenue than the dea