Dealing with long-term debt is the government's next challenge

08/19/2010 | CNNMoney

The next major challenge Washington lawmakers will face won't be dealing with the expiration of the Bush tax cuts, it will be addressing what to do about the nation's long-term debt. Reports from the Bipartisan Policy Center's Debt Reduction Task Force and President Barack Obama's fiscal-reform commission are due in December and could lead to major policy changes, such as overhauling the federal tax code and across-the-board spending cuts.

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