Grand Bargain Inadequate to Fix Fiscal Woes: BGOV Study

Even a so-called grand bargain might fall short of repairing U.S. fiscal woes.

A $4 trillion combination of spending cuts and tax increases over 10 years envisioned by Democrats and Republicans as a long-term fix would be inadequate, according to a Bloomberg Government study. Almost $6 trillion in deficit reduction will be needed in the next decade “to make a minimum down payment that puts the nation on a sounder fiscal footing,” the report said.