President's Fiscal Commission
In an op-ed today on the Washington Post website, Erskine Bowles and Sen. Alan Simpson, co-chairs of the President’s National Commission on Fiscal Responsibility and Reform, express hope that a grand bipartisan deficit reduction deal is possible.
Today, Erskine Bowles and Sen. Alan Simpson, the co-chairs of the President’s National Commission on Fiscal Responsibility and Reform, published an op-ed in The Hill offering their reactions to the President’s FY2012 budget. Bowles and Simpson write:
This morning the two co-chairs of the President's National Commission on Fiscal Responsibility and Reform were guests on CNBC's The Call. Erskine Bowles and Sen. Alan Simpson talked about reaction to their report and shared their thoughts on some of the recent happenings in Washington.
Watch the video:
It's an interesting time in the fiscal policy world right now. A lot of uncertainty is up in the air about what will happen with our deficits and debt. Last week, a lot of bad news came in.
Last night in his State of the Union address, President Obama hailed a new era of bipartisan cooperation, focusing on America's competitiveness to "win the future." He focused on the need to invest in innovation, education, infrastructure, as well as getting out from under our "mountain of debt." We released a statement last night giving our initial reaction to his proposals.
Rep. Wolf Calls for Immediate Bipartisan Action on Debt and Deficit; Pledges Support for Fiscal Commission Report
Speaking today on the House floor, Rep. Frank Wolf (R-VA) gave a speech expressing his growing concern about our national deficit and debt. He also took the bold step of stating that he would not vote for an increase in the U.S. debt limit if Congress didn't make a serious commitment to getting our country back on a sustainable fiscal path, saying:
Today, Vice President Joe Biden announced that Bruce Reed will be his next chief of staff. Bruce served as Executive Director of the President's Fiscal Commission which issued its final recommendations in December. He previously served as the top domestic policy advisor in the Clinton Administration.
Washington Drops the Ball – To many federal budget watchers, the tax cut debate has been more frustrating than watching the Redskins play. The expiring 2001/2003 tax cuts presented an opportunity not only to remake the tax code, but to transform the fiscal discussion in Washington.