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英语文摘:U.S. panel fails to advance deficit-cutting plan to Congress

Source:  Onion  2010-12-04   English BBS   Favorite  

WASHINGTON, Dec. 3 (Xinhua) -- A bipartisan deficit control commission created by U.S. President Barack Obama failed on Friday to win the supermajority required to force a quick vote in Congress.

The plan won support from 11 of 18 commission members. Fourteen were needed for official approval.

The National Commission on Fiscal Responsibility and Reform released a proposal Wednesday and recommended massive spending cut plan in a bid to trim U.S. budget deficits by 4 trillion dollars over the next decade.

In an effort to lower the deficit to 2.3 percent of gross domestic product by 2015, the proposal would reduce taxes while spreading the tax base, cutting social welfare benefits and slashing defense spending. It also called for a higher retirement age.

President Obama called for a deficit cut to about three percent of GDP by 2015 earlier this year. The current federal deficit to GDP ratio is about 8.9 percent.

Commission cochairman Erskine Bowles declared victory, nevertheless. He said the panel's nonpartisan deliberations showed it's possible to have an "adult conversation" about cutting the deficit.

U.S. federal deficit recorded 1.42 trillion dollars in fiscal year 2009, and 1.29 trillion dollars in 2010.


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