7am News, Sports and Obits
Latest WGIL news
Click to play or
Right click and "Save Target As" to download
Click for Galesburg, Illinois Forecast
Home - Cancellations - Community Events - Contact Us - Mornings - News - Obituaries - Pictures - Programs - Special Events Audio - Sports - Weather
Senate Candidate: Time to Get Fiscal
Democratic U.S. Senate candidate Alexi Giannoulias is preaching fiscal responsibility.

Giannoulias says he's for pay as you go requirements on federal spending, meaning any new expenditure would have to be offset with a tax increase or a spending cut. The money would have to come from somewhere.

Asked how that squares with the stimulus program and extended unemployment benefits, which he supported and which are deficit spending, Giannoulias says those are emergencies, not yearly recurring regular operations of government.

Giannoulias, the sitting state treasurer, gave a speech Tuesday on fiscal policy to a Chicago Rotary Club in which he said the Bush-era tax cuts for the middle class should be extended, but not the tax cuts for the wealthy, investment income should be taxed at the same rate as earned income, and the estate tax should be made permanent at the 2009 level.

Giannoulias also came out for restoring the line item veto, with which a president can veto specific spending items without vetoing the whole budget.

(Illinois Radio Network)
09 01 10 by Newsroom
News management powered by Xpression News

Click here for the WGIL News Archive

Click here for national news

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.