Budget experts raise concerns over McConnell debt-limit fallback plan
The Hill
July 17, 2011
Steve Bell of the Bipartisan Policy Center said the original McConnell proposal was a let down.
He said Wall Street would probably be satisfied with the initial McConnell proposal since they are used to expecting little from lawmakers. “For a guy like me that cares about deficit reduction, it is disappointing,” he said.
But he said adding a binding commission to it could “snatch victory from the jaws of defeat.”
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Infographic
Based on the housing industry’s average share of Gross Domestic Product (GDP) from 1980 to 2007, the infographic illustrates that 2.3 percent or $350 billion is “missing” in potential growth.
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