Nation’s Fiscal Problems and Solutions
JPMorgan Chase CEO Jamie Dimon hosted a meeting at the firm’s Park Avenue office in October 2012. The guest list read like a who’s who of policymakers including Virginia Senator Mark Warner, Tennessee Senator Lamar Alexander and Goldman Sachs CEO Lloyd Bankfein, among other guests.
The bi-partisan meeting of minds was to encourage lawmakers to seriously address the ever-growing national debt. Current and former members of the group are extremely concerned. Even former Wyoming Republican Senator Alan Simpson said that the national debt is dangerous and should be treated like a cancer.
According to Dimon, Congress is in denial regarding the nation’s fiscal problems. Unfortunately, the country’s best means to address the debt — the Simpson-Bowles plan — was never adopted into law. The closing of loopholes and increasing of taxes would have shaved $4 trillion off the debt.
Fast-forward to this year. The same individuals who so desperately wanted …
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