That is to embed in law the common sense principle that any new proposals or new tax cuts need to be offset so that they don't cause a deterioration in the budget deficit.
Gingrich and Senate Majority Leader Bob Dole proposed a modest partial budget agreement that cuts the deficit but doesn't erase it entirely.
Another is that with the federal budget deficit mounting, tax rates probably aren't going any lower and could soon head higher, making Roth conversions even more attractive now.
Don't fault the president's budget office for tallying the deficit from year-to-year--it's the traditional way to do it.
He didn't say that this was an effort to cut the budget deficit.
This means Brussels won't force extra budget cuts on otherwise strongly performing governments solely to meet deficit goals missed because of weaker-than-forecast growth.
As a result, Mr. Osborne now doesn't expect to eliminate the structural deficit, which the independent Office for Budget Responsibility has helpfully now decided is much smaller than previously assumed, until 2018, three years later than planned.
The President didn't -- the President inherited an economic downturn, he inherited a massive budget deficit.
President Bush says he wants to do something about the long-term budget deficit, about the fact that the government has promised benefit programs that it can't afford to pay with existing tax revenues.
Besides widening the budget deficit, tax expenditures encourage behavior that likely would have occurred anyway or just plain doesn't make good economic sense.
But Pelosi made it clear that Democrats still plan to tax the rich and said if the money isn't needed to pay for health care, it would be directed at the nation's budget deficit.
CNN: Democrat: Obama slowing down progress on health care reform
In 2011, Congress passed a law saying that if both parties couldn't agree on a plan to reach our deficit goal, about a trillion dollars worth of budget cuts would automatically go into effect this year.
He also didn't rule out said a General Services Tax or similar being introduced in the future to reduce the budget deficit.
But the budget does include items that become assets and depreciate slowly over time as expenditures, so hopefully the deficit isn't as bad as some say.
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