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In flap over S. Carolina law, old tensions and a campaign issue

In flap over S. Carolina law, old tensions and a campaign issue


By Andy Sullivan COLUMBIA, South Carolina (Reuters) - The state that fired the first shot in the Civil War is once again battling the U.S. government in a racially charged conflict that is drawing ...
Divers suspend search of capsized Italy liner

Divers suspend search of capsized Italy liner


By Steve Scherer and Gabriele Pileri GIGLIO, Italy (Reuters) - Divers searching the capsized Italian cruise liner Costa Concordia suspended work on Wednesday after the vast wreck shifted slightly but officials said they are ...
Italy ship search suspended after hulk moves-officials

Italy ship search suspended after hulk moves-officials


GIGLIO, Italy (Reuters) - Italian divers suspended their search of the capsized cruise liner Costa Concordia after the vessel shifted slightly on its resting place near the Tuscan island of Giglio, officials said on Wednesday. ...

Erskine Bowles (L) and Alan Simpson (R), co-chairmen of the National Commission on Fiscal Responsibility and Reform, take their seats to testify before the U.S. Joint Select Committee on Deficit Reduction during a hearing on Capitol Hill in Washington, No

Bipartisan commission proposes $2.4 trillion deficit reduction
Bipartisan commission proposes $2.4 trillion deficit reduction
Posted : Tuesday, 19 February 2013 09:36AM

WASHINGTON (Reuters) - A bipartisan fiscal commission offered a plan to reduce U.S. government deficit spending by $2.4 trillion over 10 years on Tuesday and do so with a combination of spending cuts, a healthcare overhaul and tax reform.

The proposal by Democrat Erskine Bowles and Republican Alan Simpson, co-chairmen of a fiscal commission that President Barack Obama appointed early in his first term, added to the Washington debate over how to get a handle on $1 trillion annual deficits and a $16 trillion national debt.

The Simpson-Bowles plan would aim to achieve $2.4 trillion in deficit reduction over 10 years. About one-fourth of that reduction would come from health care reforms and another fourth from tax reform.

The remaining reduction would come from a combination of mandatory spending cuts, stronger caps on U.S. discretionary spending, using the Consumer Price Index for inflation-indexed provisions in the budget, and lower interest payments.

"The proposal also calls for a parallel process to make Social Security sustainably solvent and further actions to bring transportation spending and revenues in line and limit per capita cost growth in federal budgetary commitment to health care to about the growth rate of the economy," according to a summary of the plan.

(Reporting By Steve Holland; Editing by Doina Chiacu)

(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp