Washington, D.C. – Thursday morning in the Diplomatic Reception Room of the White House, President Barack Obama announced the creation of a bipartisan National Commission on Fiscal Responsibility and Reform. He also announced the co-chairs of the new panel, former White House Chief of Staff Erskine Bowles and former Republican Senate Whip Alan Simpson as Commission.
The President created the commission through an executive order, which he signed this morning, after Senate Republicans, in order to continue their obstructionist agenda, flip-flopped and decided not to support fiscal responsibility by means of legislation.
“For far too long, Washington has avoided the tough choices necessary to solve our fiscal problems – and they won’t be solved overnight. But under the leadership of Erskine and Alan, I’m confident that the Commission I’m establishing today will build a bipartisan consensus to put America on the path toward fiscal reform and responsibility. I know they’ll take up their work with the sense of integrity and strength of commitment that America’s people deserve and America’s future demand,” Obama stated.
In addition to this, the President also recently signed PAYGO into law. This was another fiscal reform step which failed to gain GOP support in their misguided attempts to sink anything that the Democrats support.
According to the White House website,
- The Commission will make recommendations that put the budget in primary balance so that we are paying for all operations and programs for the federal government (achieving deficits of about 3 percent of GDP) by 2015 and meaningfully improve the long-term fiscal outlook.
- The Commission will be comprised of 18 total members. 12 members will be appointed by Senate/House leaders (3 each by the Republican and Democratic leaders of both chambers). All must be sitting members of Congress. The additional 6 members will be appointed by the President, with no more than 4 from the same political party.
- Furthermore, 14 out of 18 votes needed to report recommendations, and recommendations must be reported to Congress by December 1, 2010.
Following is the video of the President’s announcement as well as the official signing of the executive order.
Comments
Oh wow! A commission! I guess Mr. $2 trillion in deficits in two years is really serious about fiscal responsibility now! This is more BS window dressing. We don't need no stinking commission. All we need is the return to the enumerated powers of the Constitution. I can cut 70% of the federal budget tomorrow and it won't take any new laws, just obeying the original. You must really have to stretch to try to make this guy look relevant...honest...native born. the last Democratic President that was worth a damn was Kennedy and he got shot for his trouble. The Banking/corporate/military/media oligarchy rules Washington and Obama is just their whipping boy.
Obama has THE biggest balls on the planet! He runs up the debt to record levels in one year and then has the nuts to lecture US on the danger of spending?!? Is this man on THIS planet?
To Larry, YOU have to be the dumbest man on the planet. Your boy George was the one who ran up the national debt AND made the rest of the world HATE Americans. How dumb can YOU be???? :)
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