Fight Back! News

News and Views from the People's Struggle

deficit commission

By Masao Suzuki

On Nov. 10, former Colorado Republican Senator Alan Simpson and Erskine Bowles, investment banker and Morgan Stanley board member, released a draft report on deficit reduction. Both are co-chairs of the bipartisan deficit reduction commission appointed by President Obama. Their recommendations have been widely slammed by labor union and other progressives for good reason: The recommendations open the doors to even more austerity for working people while proposing lower tax rates for the well-to-do.

Read more...