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Erskine Bowles and Alan Simpson presented their solution to reducing the fiscal deficit Tuesday in Washington. They target $2.4 trillion in savings over 10 years but want to avoid the so-called sequester of automated spending cuts.
The nonpartisan Congressional Budget Office (CBO) last Friday released its analysis of President Obama’s budget for fiscal year 2013, concluding that the president’s plan will create a $977 billion dollar fiscal deficit for next year.
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