Obama Offers Hope for Debt Panel’s Plan
By JACKIE CALMES
NYT
WASHINGTON — President Obama said he would consider adopting some of the recommendations in the provocative debt-reduction plan from his fiscal commission, which wrapped up work on Friday with more of a bipartisan accord than even its members had expected.
Soon after the commission finished — with 11 of its 18 members backing the package of deep spending cuts and revenue increases — Mr. Obama issued a statement praising the panel’s work. Without embracing any particular ideas, he said he would review them all as he looks for ways to “correct our fiscal course.”
“The commission’s majority report includes a number of specific proposals that I — along with my economic team — will study closely in the coming weeks as we develop our budget and our priorities for the coming year,” Mr. Obama said in a statement distributed by the White House as the president visited troops in Afghanistan.
The plan is an attempt to shave $4 trillion from projected deficits over the coming decade. It reflects the view that chronic deficits and mounting debt, driven by fast-rising health care costs and an aging population, must be addressed aggressively even as the economy requires government help to recover from a deep recession.
(More here.)
NYT
WASHINGTON — President Obama said he would consider adopting some of the recommendations in the provocative debt-reduction plan from his fiscal commission, which wrapped up work on Friday with more of a bipartisan accord than even its members had expected.
Soon after the commission finished — with 11 of its 18 members backing the package of deep spending cuts and revenue increases — Mr. Obama issued a statement praising the panel’s work. Without embracing any particular ideas, he said he would review them all as he looks for ways to “correct our fiscal course.”
“The commission’s majority report includes a number of specific proposals that I — along with my economic team — will study closely in the coming weeks as we develop our budget and our priorities for the coming year,” Mr. Obama said in a statement distributed by the White House as the president visited troops in Afghanistan.
The plan is an attempt to shave $4 trillion from projected deficits over the coming decade. It reflects the view that chronic deficits and mounting debt, driven by fast-rising health care costs and an aging population, must be addressed aggressively even as the economy requires government help to recover from a deep recession.
(More here.)
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