Rose’s interview of the joint chairs of the Deficit Commission is essential viewing for anyone who seeks to be a knowledgeable observer of our nations’ dire economic condition and its impact upon all programs and our future way of life.
Bowles is a former White House Chief of Staff under President Bill Clinton. Simpson a three term Republic senator from Wyoming.
Their proposals deal with what changes need to be undertaken starting two or three years hence as the economy recovers.
As Bowles observed “This is the big problem facing this generation” and it is a matter of “national security.” We must make “hard choices.” And if we don’t like some cuts in spending or increases in taxes, then we need to propose alternative approaches to offset them.
They point out that for every dollar we are spending, forty cents is being borrowed abroad. As Simpson observed, matters are “unsustainable.” They stress if we do not take corrective steps, the markets will force us to within the next couple of years.
What is encouraging is their belief that Republicans are now are prepared to put politics aside and act as patriots. There is a general recognition that if the deficit problem is not sufficiently addressed by this Congress, they will be voted out in 2012 and another group put in, regardless of party affiliation.
These two old patriots are determined to put forth a detailed proposal, even if they are unable to obtain the requisite 14 votes out of the 18 member commission needed to trigger promised serious Congressional attention, if not a vote up or down. They say they will not deal in generalities in order to make it appears as though they have succeeded in creating the needed consensus. They are determined to put a viable plan on the table, and then let it be modified provided changes to the revenue and spending sides balance out.
The Commission is timely and historic. Everyone can benefit from listening to what Bowles and Simpson have to say.
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