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- iHaveNet.com: Economy
by Alex M. Parker
Obama's Debt Plan Complicates Super Committee
The so-called debt super committee already faced a superhuman-sized task. The panel, officially the "
The president's jobs and deficit plans have already left
The president's plan to raise revenues through increased taxes on high-income earners -- the so-called Buffett Rule, based on the anecdote that billionaire investor Warren Buffett pays less in taxes than his secretary -- isn't likely to find much support among Republicans on Capital Hill, with many suspecting that it is a campaign ploy, and not a serious proposal. Furthermore, his promise to veto any legislation that cuts
The situation has echoes of this summer's standoff, but with the roles reversed and with the stakes a bit lower. Since Congress has returned, one is more likely to hear a Republican talking about compromise and common ground, and a Democrat issuing ultimatums. It's possible that Republicans have decided that they've taken a beating with their public image over the showdown, and that a more conciliatory posture, at least for now, would be beneficial. But did the
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Obama Deficit Plan Could Derail Hopes for Super Committee Success