Word: carneys
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...James Carney...
...James Carney...
...James Carney and John F. Dickerson
...year 2002. The deal includes a net $85 billion in tax cuts over five years and could result in the first U.S. balanced budget in three decades. Negotiations went into hyperdrive on news that an unexpectedly strong economy had produced an additional $200 billion in revenues. TIME's Jay Carney says that the added money should bring many Democrats on board because it will allow deficit reduction while maintaining a level of funding for domestic programs that most Democrats will find acceptable: "It looks like Clinton will get a lot more Democrats than he had thought. These new numbers suddenly...
...billion of the federal debt in the current fiscal quarter, easing the need to implement deep budget cuts. "Any time there's a booming economy and increased tax revenues, it allows negotiators to project smaller losses from tax cuts and more money for government programs," TIME's James Carney notes. "The two sides get closer together without having to do anything." What?s more, the two sides reportedly have nailed down about $22 billion in five-year savings from Medicaid cuts. The chief remaining obstacle, reports Carney, is persuading hardline Democrats led by Minority Leader Richard Gephardt to embrace...