FarmPolicy

July 28, 2014

Debt Commission; Farm Bill; Biofuels; Climate; Trade; GIPSA; and CFTC Issues

Debt Commission

John D. McKinnon, Corey Boles and Martin Vaughan reported today at The Wall Street Journal Online that, “The leaders of a White House commission laid out a sweeping proposal to cut the federal budget deficit by hundreds of billions a year by targeting sacrosanct areas of U.S. tax and spending policy, such as Social Security benefits, middle-class tax breaks and defense spending.”

The Journal article noted that, “Overall, the plan would hold down the growth of the federal debt by roughly $3.8 trillion by 2020, or about half of the $7.7 trillion by which the debt would have otherwise grown by that year, according to commission staff. The current national debt is about $13.7 trillion.”

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