CRFB, Concord, and CED Commend Commission

Moments ago, the Committee for a Responsible Federal Budget released a joint statement on the President's just-announced National Committee on Fiscal Responsibility and Reform, along with the Concord Coalition and Committee for Economic Development. In the statement, we voiced our agreement with Concord and CED that the president’s proposed fiscal commission could be an effective mechanism for addressing the debt situation, and suggested that "the Commission is off to a good start with the appointment of Erskine Bowles and Alan Simpson as co-chairs."

We also made the following recommendations (with details available in the release):

• First, the commission must be truly bipartisan.
• Second, it must have a broad mandate.
• Third, it must have no preconditions.
• Fourth, it must be transparent.
• Fifth, its recommendations should be voted on in Congress.

As we concluded:

In the ideal world, the nation would not need another commission. Congress and the President would simply address the pressing fiscal challenges. And our elected leaders, not an appointed commission, ultimately must make the difficult decisions. However, a bipartisan commission -- with a broad mandate and no preconditions -- could help break the current partisan gridlock, develop a credible marker for action, and open the door for those willing to address the necessary tough choices.