Congress agreeing to enough tax revenue increases and spending cuts that would nullify sequestration cuts is an ambitious goal but could be possible, the Wall Street Journal’s economics editor has said.
He said reaching a deal is possible if lawmakers get a sense that they need to get the deal done after the election, Molly Bernhart Walker reports.
Other economists at the event did not feel optimistic lawmakers could head off sequestration, according to the report.
Marc Goldwein, senior policy director of the Committee for a Reasonable Federal Budget, told the audience many solutions exist but added it is unlikely Congress will do much during a lame duck session.
However, he also said the outcome of not doing deficit reduction could motivate politicians to act.