Social Security and taxes will be at the forefront of government discussions over a deficit deal as Congress continues seeking a proposal that will allow the U.S. government to meet its August 2 deadline for repayment of debt obligations.
Taxes have been the greatest 'stumbling block' keeping government discussions from formalizing a deficit deal. As the article states, "Until now, Republicans have rejected any tax increases, while Democrats have insisted on including some."
Compromise is likely to occur in the coming weeks as Congress seeks to develop a long-term plan that will fuel further economic recovery.
Wall Street Journal, July 7, 2011
Movement in Budget Impasse
