Free Republic

President Barack Obama said Tuesday that a proposal offered by Republican and Democratic senators is “a very significant step” that represents “the potential for bipartisan consensus” on resolving the impasse over cutting the deficit and raising the debt ceiling. In an appearance in the White House briefing room, Obama urged congressional leaders to embrace the “Gang of Six” proposal, which would slash the deficit by $3.7 trillion over 10 years, in part by raising about $1 trillion in new revenue. We have a Democratic president and administration that is prepared to sign a tough package that includes both spending cuts,...

A new survey from the American Institute of Certified Public Accountants (AICPA) indicates that the vast majority of CPA’s in executive positions, such as corporate chief executive officers (CEOs), chief financial officers (CFOs) and Controllers, believe American companies can’t continue providing pensions that adequately cover their employees’ retirement years. Further, many of the CPAs surveyed also believe reductions in pension benefits pose a threat to a company’s ability to attract and retain the talent they need to compete. These findings are a wake-up call,” John Morrow, Vice President of the AICPA’s division for CPAs in business and industry, commented in...