Obama Panel to MeetMembers of President Barack Obama's bipartisan fiscal commission meet for the first time today.
By: Associated Press, WDAZ
WASHINGTON (AP) - Members of President Barack Obama's bipartisan
fiscal commission meet for the first time today.
And even they admit it might be nearly impossible to find a
consensus by next fall for reducing federal deficits that threaten
to erode Americans' standard of living.
The 18-member panel has instructions to deliver its
recommendations after the November election. The group includes
Sen. Kent Conrad of North Dakota.
Conrad says the group has a "tremendous responsibility" to
come up with a bipartisan plan that puts the nation back on a sound
The commission is charged with producing a deficit no bigger
than $550 billion by 2015, an amount equal to about 3 percent of
the total U.S. economy. That would require deficit savings in the
range of $250 billion or more.
The panel's co-chairman, former Republican Sen. Alan Simpson of
Wyoming, recently called it "a suicide mission."