Word: panetta
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...Hollings law. They are even talking of putting off a budget agreement -- and the announcement of new "revenue enhancements" that it might entail -- until a lame-duck session of Congress begins, conveniently, after the November elections. "The tough choices have been avoided for ten years," laments California Democrat Leon Panetta, chairman of the House Budget Committee. "There's never a good time...
...proposing an increase that he could either virtuously reject or pretend had been rammed down his throat as the price for shrinking the deficit. "Now I wonder if this ((summit invitation)) is a good-faith effort or whether political traps are being set," said House Budget Committee chairman Leon Panetta...
...year's budget-cutting exercise will be twice as difficult as the Administration contends. The CBO says $74 billion in spending cuts and revenue increases will be needed to hit the GRH target, while the Office of Management and Budget puts the number at only $36 billion. Says Leon Panetta, House Budget Committee chairman: "This discrepancy in the figures presents Congress with a terrible political and legislative dilemma. Do we raise taxes and cut programs or all get optimistic together...
...think the administration ultimately has got to support this kind of package," said Rep. Leon Panetta (D-Calif.), the chair of the House Budget Committee, whose district includes the epicenter of the earthquake. "They may not like all of the money in this first installment....I think this package will be a first step...
...political cost. The new President could claim to have fulfilled his campaign pledge to meet the deficit-cutting targets without new taxes, but avoid the need to identify specific programs for the budget ax. That is precisely why key Democrats like Mitchell and House Budget Committee Chairman Leon Panetta dismiss the vague outline as a political ploy. Last week even some Republican officials urged Darman and Bush to go a half-step further and list "broad proposals" to reform Medicare and farm subsidies. But like any smart cardplayer, Bush has no intention of showing his hand...