Decision Time – Election Day is tomorrow and the stakes are high. Not only is control of the White House and Congress at stake, but the election will also have repercussions for the federal budget and national debt. Although it will be the current group of policymakers that will address the fiscal cliff (or not) in a post-election lame duck session of Congress, the results of the voting will no doubt play a role in the deliberations, which could very likely spill into next year.
Up for Debate – Election 2012 is entering the final stretch and it is still up for grabs. The presidential contest has been marked more by missteps than by anyone stepping up and observers are waiting to see who will mimic the Washington Nationals and Redskins and give it away at the end. The third and final presidential debate is tonight at 9 pm Eastern Time and is the last time the contenders will go head to head.
After we analyzed a part of it two weeks ago, Governor Mitt Romney's tax plan is back in the news, with a proposed deduction cap as the subject of a new Tax Policy Center study. He had mentioned a $25,000 dollar cap on deductions as a possibility in his tax plan during the debate Tuesday night and has previously proposed a $17,000 cap.
Tonight at 9 PM on the grounds of Hofstra University is the second presidential debate and the only debate with a town hall format. This will allow questions from audience members, and with such a broad consensus that something needs to be done about the national debt, we expect at least a few questions on fiscal policy in tonight's debate. As before, we will be live fact checking from Twitter (@BudgetHawks) and our live feed will appear below.
Former Congressman and CRFB Board Member Tim Penny (D-MN) writes in today's The Hill that even with both parties laying out different plans this election, they need to come together and agree on doing something about our unsustainable fiscal path.
Vice President Joe Biden and Representive Paul Ryan (R-WI) will take the stage in Kentucky tonight at 9:00 PM E.T. in the Vice Presidential Debate. In the last debate, President Obama and Governor Romney spent a good deal of time in the last debate discussing fiscal policy -- though we hope each candidate gets more into the details tonight.
Tonight at 9 PM in Kentucky will be the first and only vice presidential debate between Vice President Joe Biden and candidate Paul Ryan. If this debate is anything like the first presidential debate, fiscal policy should be given a solid amount of attention, especially given Congressman Ryan's position as chairman of the House Budget Committee and Vice President Biden's involvement in debt ceiling negotiations last year.
Eugene Steuerle has a tongue-in-cheek post in his "The Government We Deserve" blog on why Americans should choose him as President after last night's debate. In it, he satirizes some of the more petty and political aspects of the debates and the 2012 campaigns more broadly.