Just The Facts

No Labels is beginning a new series of background briefings to provide the context you need to understand the top issues of the day -- with no partisan spin, just the facts. Check out the topics below.

Debt Deal Options

The Super Committee faces a difficult road ahead, mainly due to the differing partisan stances on entitlements and revenues. We examine different debt reduction methods that have been created over the past few months, laying out just the facts and letting you decide the way forward.

Establishing the Super Committee

A key provision of the Budget Control Act of 2011 requires the establishment of the “Joint Select Committee on Deficit Reduction,” referred to as the Super Committee. This Committee, comprised of 12 members of Congress from both the House and Senate must produce a plan to reduce the federal deficit by at least $1.2 trillion over 10 years.

Super Committee Members

As the members of the Super Committee approach the difficult job ahead, it’s important to understand where they come from -- their background, their constituency, and their expertise. We have compiled snapshot bios on each of the Super Committee’s members.

Credit Downgrade

Congress’ inability to find a substantive solution to our nation’s debt crisis resulted in Standard & Poor’s (S&P) downgrading the U.S. long-term debt from AAA to AA+, on August 5, sending shock waves throughout the global financial markets.

Primary Elections

Our politics are defined by elections. One day in November can shift the entire direction of the country. And when citizens go to the polls on Election Day, the candidate field has already been narrowed to usually just two choices -- through primary elections. But how does the final field of candidates develop and how are primaries run? The answer: It depends on the state and the party.

Pledges

Many politicians have infringed upon their oath of office by signing single-issue partisan pledges. These partisan pledges prevent representatives from being open minded and analyzing alternatives that could be critical to our future development as a nation. 

Super Committee Failure

After three months of nearly non-stop negotiations, the members said last weekend they could not agree on any of the key elements in their charge. Republicans would not raise any taxes. Democrats would not cut entitlement programs. The failure of their effort triggers actions that were defined in their chartering legislation ... severe and onerous cuts in programs dear to the hearts of Republicans and Democrats.

Annual Financial Report

On Dec. 23, 2011, the Government Accountability Office (GAO) and the Treasury Department released a report that might just be the most important document you’ve never heard of. It’s a financial statement for the entire U.S. federal government’s operations, compiled by the Office of Management and Budget (OMB) under the auspices of the Treasury Department and audited by GAO. Every year, GAO releases this report, and every year, no one notices.