Deficit hawks make the case that taxes can go much lower than recent analysis suggests if you get rid of enough loopholes and deductions. But their argument also is a reminder of just how hard it would be.
Simpson-Bowles is often advertised as a plan that would reduce the deficit by $4 trillion, through a 3-to-1 ratio of spending cuts to revenue increases. But this doesn't always give an accurate picture of the plan.
The reigning deficit hawks have a new plan: Get Congress to "fast-track" a big fiscal package that would allow individual members and committees to work out the details of a budget deal, but prohibit the filibuster to avoid gridlock. But would it work?