Stalemate Over Budget Talk But Time Ticks

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Members of a joint committee found themselves on Sunday that it would be difficult to break the stalemate over $1.2 trillion federal budget deficit deals by the deadline, criticizing each other for their stubbornness about taxation and entitlement spending.

While Democrats said that Republicans had little willingness to compromise on new taxes for revenues, Republican Rep. Jeb Hensarling of Texas, co-chairman of the committee, countered Democrats by saying that the stalemate continued because of the Democrat's inflexibility to accept reduction in Medicare and Social Security, the New York Times said.

The New York Times mentions this to clarify what disputes between Republican and Democrats and frame the conflicts between them over the deficit-reduction talk. The New York Times, illustrates how divided the committee is by quoting members' words from talks on TV.

While the New York Times pays attention to conflicts, the Los Angeles Times look at what kind of deals members have offered in the bipartisan talk.

The Republican had $640 billion a debt-reduction plan on the table. The Los Angeles Times reported. The offer would contain $542 billion spending cut and $98 billion savings generated by lowering interest payments on the national debts.

The Los Angeles Times said that Sen. Democrat John F. Kerry of Massachusetts said Democrats offered $4 trillion reductions on important programs that would likely to stir anger in public.

The New York Time said that the Congressional Budget Office estimated that automatic spending cut would result in 7.8 percent budget cut in domestic programs and 10 percent cut in defense program that considered to be the largest cut if the committee cannot reach the deal.

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This page contains a single entry by fusex001 published on November 20, 2011 10:11 PM.

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