Didn't see a diary up on this. The dynamic duo Alan Simpson and Erskine Bowles are back with a new and improved plan to make most of the country more miserable than they are now. They're making the rounds of the NBC cable stations MSNBC and CNBC.
Simpson, Bowles Propose $2.4 Trillion Deficit Cut PlanAs is their habit CNBC have their celebrity financial "legends" on as a guest host.
Erskine Bowles and Alan Simpson proposed a new tax plan in hopes of finding a middle ground between Democrats and Republicans on deficit reduction. If accepted, would implement deep spending cuts and reduce the federal budget by $2.4 trillion over a 10 year period.
Bowles and Simpson, co-chairs of the President's deficit reduction commission, spoke with CNBC's 'Squawk on the Street' on Tuesday. With automatic spending cuts of roughly $85 billion set to take effect on March 1 if no deal is made, but many believe that despite increasing pressure to make a compromise, lawmakers are less likely to do so as the deadline gets closer.
Contentious budget issues have paralyzed the Capitol, and raised the possibility that deep spending cuts and steep tax hikes may take effect within weeks.
Ken Langone co-founder of Home Depot singing the praises of Erskine Bowles and Alan Simpson.
Note please the well how should I put it uh LIE. The Comedy team of S&B are getting paid to sell their miracle cure through theFIX the Debt campaign