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Clifford Marks

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S&P's warning on deficits could strengthen 'gang of six'

April 19, 2011 The markets ultimately shrugged off Standard and Poor's downgrade on Monday of America's debt outlook, but the report's pointed criticism of legislative gridlock may give a boost to budget compromise efforts led by a bipartisan group of senators known as the "Gang of Six." The ratings agency cited bipartisan bickering ...

Economy Insiders: Long odds on long-term budget deal

April 18, 2011 In a sign of just how difficult a long-term budgetary compromise will be, more than 60 percent of Economic Insiders who participated in National Journal's poll this week rated the odds of Congress agreeing on a long-term deficit reduction plan this year at less than one-third. A majority -- 27 ...

S&P lowers U.S. debt outlook from 'stable' to 'negative'

April 18, 2011 Credit rating agency Standard & Poor's dropped its long-term outlook for America's debt position to 'negative' on Monday, citing concern that politicians will fail to reach agreement on how to tame the budget deficit, which is projected to be about $1.4 trillion for fiscal 2011. "We believe there is a ...

Two former Republican EPA administrators warn of 'siege' against agency

March 25, 2011 The Environmental Protection Agency is "under siege" from a Congress bent on cutting its budget and blunting its responsibilites to science, two former Enviornmental Protection Agency directors who served under Republican presidents wrote in a Washington Post op-ed Friday. "Today the agency President Richard Nixon created in response to the ...

Treasury slams proposal for tax holiday on foreign corporate profits

March 24, 2011 A top Treasury Department official lashed out on Wednesday against proposals to give corporations a tax holiday on their overseas profits, arguing that a previous experiment with the idea lowered revenues without boosting job creation. "In 2004, when the U.S. enacted a repatriation tax holiday, the goal was to encourage ...

SEC's Shapiro comes under fire for general counsel's Madoff conflict

March 9, 2011 Mary Schapiro, chairwoman of the Securities and Exchange Commission, is coming under fire from Congress for hiring a general counsel who profited off an investment with notorious financial criminal Bernard Madoff and played a role in determining how Madoff's victims would be compensated. Along with his brothers, the general counsel, ...

'Gang of six' close to deficit reduction proposal

March 8, 2011 A bipartisan "gang of six" led by Sens. Mark Warner, D-Va., and Saxby Chambliss, R-Ga., is close to finishing a deficit-reduction plan similar to the one proposed by Alan Simpson and Erskine Bowles, the co-chairs of President Obama's deficit-reduction panel, the Wall Street Journal reports. The group is planning to ...

Deficit commission's final plan released

December 1, 2010 Adding detail - but no fundamental policy shifts - to a draft plan floated last month by its chairmen, President Obama's fiscal commission called this morning for "America's leaders to put up or shut up" and adopt a massive overhaul of taxation, government spending and the social safety net, in ...

TSA works on alternative airport screening process for pilots

November 15, 2010 FROM NEXTGOV arrow The Transportation Security Administration is working to create an alternative screening process for pilots, the agency's chief said this morning, amid mounting protests by airline pilots over new airport scanners criticized as invasive and hazardous to health due to radiation exposure. "Obviously, they are a trusted group in so many ...

TSA works on alternative airport screening process for pilots

November 15, 2010 The Transportation Security Administration is working to create an alternative screening process for pilots, the agency's chief said this morning, amid mounting protests by airline pilots over new airport scanners criticized as invasive and hazardous to health due to radiation exposure. "Obviously, they are a trusted group in so many ...