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As Talks Begin on "Fiscal Cliff," Report Warns "Fix the Debt" a Front for More Corporate Bailouts
As the White House begins a series of meetings today on the looming "fiscal cliff," a coalition of the largest corporate firms and advocacy groups is lobbying for wide-ranging cuts in government spending, including to programs like Medicare and Social Security.
The group, which includes 80 of the country’s most powerful CEOs, is called The Campaign to Fix the Debt. It was co-founded by former Clinton White House chief of staff, Erskine Bowles, and former Republican Sen. Alan Simpson, previously the co-chairs of President Obama’s bipartisan National Commission on Fiscal Responsibility and Reform. Critics have accused the group of using the budget crisis to push for corporate tax cuts.
Democracy Now! is joined by Sarah Anderson, director of the Global Economy project at the Institute for Policy Studies and co-author of the new report, "The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks."