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July 14, 2010

K-12 Tax & Spending Climate: Debt commission chiefs give gloomy fiscal outlook

Dan Balz:

The co-chairs of President Obama's debt and deficit commission offered an ominous assessment of the nation's fiscal future here Sunday, calling current budgetary trends a cancer "that will destroy the country from within" unless checked by tough action in Washington.

The two leaders -- former Republican Senator Alan Simpson of Wyoming and Erskine Bowles, White House chief of staff under former President Bill Clinton -- sought to build support for the work of the commission, whose recommendations due later this year are likely to spark a fierce political debate in Congress.

"There are many who hope we fail," Simpson said at the closing session of the National Governors Association meeting. He called the 18-member commission "good people with deep, deep differences" who know the odds of success "are rather harrowing."

Posted by Jim Zellmer at July 14, 2010 1:32 AM
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