clear
Friday July 31st, 2015 7:22AM

Fiscal cliff: How to judge if debt cuts are real

By The Associated Press
WASHINGTON (AP) -- President Barack Obama and leaders of the lame-duck Congress may be just weeks away from shaking hands on a deal to avert the dreaded "fiscal cliff."

So it's natural to wonder that if they announce a bipartisan package promising to rein in growing federal deficits, will the agreement be real?

Look for specific deficit-cutting targets in writing for each of the next 10 years, and how the savings are be divided between tax increases and spending cuts. Spoken promises are less impressive.

New revenues from higher tax rates on top-earning Americans would resolve the toughest obstacle to a deal. Closing tax loopholes will prove extremely difficult.

How specific are the savings from big, costly benefit programs like Social Security and Medicare? That's where the money is.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Doctors: Blood clot located in Clinton's head
Secretary of State Hillary Rodham Clinton developed a blood clot in her head but did not suffer a stroke or neurological damage, her doctors said Monday. They say they are confident that she will make a full recovery.
3:55PM ( 2 years ago )
Illinois Sen. Kirk to return a year after stroke
Nearly a year after a stroke left him barely able to move the left side of his body, U.S. Sen. Mark Kirk is expected to climb the 45 steps to the Senate's front door this week - a walk that's significant not just for Illinois' junior senator, but also for medical researchers and hundreds of thousands of stroke patients.
3:54PM ( 2 years ago )
U.S. News
Ga. ethics legislation could end free tickets
General Assembly approval next year of a proposed ethics reform measure could endanger an important fall tradition for Georgia lawmakers - free football tickets.
6:26PM ( 2 years ago )
Abortion restrictions, tax changes loom in Ga.
Tax breaks for manufacturers and higher unemployment taxes for employers take effect with the new year in Georgia, but it remains to be seen whether the state's newest abortion restrictions will be enforced.
6:23PM ( 2 years ago )
Business News
Couch names administrative team
Ahead of his scheduled swearing in Friday, Hall County Sheriff-elect Gerald Couch named his top administrative team Monday.
6:28PM ( 2 years ago )
Tech beats Southern California in Sun Bowl
Tevin Washington threw a touchdown pass and ran for another score to help Georgia Tech beat Southern California 21-7 on Monday in the Sun Bowl.
5:54PM ( 2 years ago )
Hall Co. officials launch health-based initiative for employees
Hall County officials believe healthy county employees will be of greater service to the county. With that in mind, they have created a health-based fitness initiative to provide free fitness training for county workers.
5:46PM ( 2 years ago )
Local/State News
Maine same-sex couples marry in first hours of law
After waiting years and seeing marriage rights nearly awarded and then retracted, gay couples in Maine's largest city didn't have to wait a moment longer than necessary to wed, with licenses issued at the stroke of midnight Friday as a new state law went into effect.
8:02AM ( 2 years ago )
Fresh fighting in C. African Republic; US leaves
Renewed fighting between government forces and rebels seeking to overthrow the president broke out Friday in Central African Republic's third largest city, a military official said, hours after the U.S. ambassador and his team were evacuated from the capital.
3:18PM ( 2 years ago )
White House meeting a last stab at a fiscal deal
A planned Friday afternoon meeting among congressional leaders and the president - their first since Nov. 16 - stands as a make-or-break moment for negotiations to avoid across-the-board first of the year tax increases and deep spending cuts - the fiscal cliff.
8:06AM ( 2 years ago )
Politics
Congress heading on vacation, putting off messy decisions
WASHINGTON (AP) — As lawmakers head out of the Capitol for a five-week summer recess, they leave behind a pile of unfinished business that all but guarantees a painful fall.Not long after they return...
3:31AM ( 3 hours ago )
Rescuers hope for 'best-case scenario' for boys lost at sea
WEST PALM BEACH, Fla. (AP) — Mustering hope for a "best-case scenario" in the face of countless unknowns, search crews braced for a seventh day and night at sea Thursday in the hunt for two teenagers...
6:22PM ( 12 hours ago )
Democrats consider distance from Jefferson, Jackson
CONCORD, N.H. (AP) — Democratic parties in the three states that start the presidential nominating process are exploring ending their association with two former White House occupants: Thomas Jefferso...
4:41PM ( 14 hours ago )
Afghan Taliban confirm Mullah Omar's death, choose successor
KABUL, Afghanistan (AP) — The Taliban confirmed the death of longtime leader Mullah Mohammad Omar and appointed his successor Thursday, as a new round of peace talks was indefinitely postponed amid co...
4:19PM ( 15 hours ago )
3.3 million dry erase boards recalled after due to cut risk
NEW YORK (AP) — Acco Brands Corp. is recalling about 3.3 million wall-mounted dry erase boards after customers said they cut their hands, fingers and feet while removing the board from a wall.The U.S....
12:33PM ( 18 hours ago )