Government spending, according to some conventional wisdom, is out of control. That battle cry rallied many politicians during the mid-term elections, helped elect Tea Party and conservative Republican candidates, while putting Democrats on the defensive over the deficit. But now that elections are over, do politicians have the stomach for real change? Yesterday, the co-chairs of President Obama's non-binding fiscal commission on deficit reduction released a draft plan to curb spending ... but the plan met with general dismay in Washington. Why?
There's growing concern about the national debt: currently a gulp-inducing $13 trillion... and counting. President Obama's National Commission on Fiscal Responsibility and Reform is tasked with coming up with proposals to begin solving the problem later this year. We speak with Sen. Judd Gregg (R-N.H.), ranking member on the Senate Budget Committee, and a member of the bipartisan deficit-reduction commission.
UPDATED: 5:45 p.m.
It's been a fast-moving afternoon. Around mid-day, reports said that the man who flew a small plane into a building in Austin, Tx., had a long and apparently suicidal note online, discussing his frustration with taxes and health care systems. We've kept an eye on it this afternoon, trying to gauge how much of the story will remain to be told by the time we go to air tomorrow morning. Is there a larger implication to this, or was it just a random act of violence from someone unhinged?
Rafer Guzman and Kristen Meinzer tweaked their sports movie question a bit – What are great sports movies for people who don't like sports? – but then found out late this afternoon that Rafer will be unable to join us tomorrow morning after all. So we began digging through our address books for other people who talk well about movies... Finding someone on short notice to work on an already-set premise will take a little scramble, but we'll find someone soon.