Obama: Skip the politics, let’s listen to fiscal commission’s ideas

Before anybody starts shooting down proposals, I think we need to listen, we need to gather up all the facts. If people are, in fact, concerned about spending, debt, deficits and the future of our country, then they’re going to need to be armed with the information about the kinds of choices that are going to be involved, and we can’t just engage in political rhetoric.
President Barack Obama • Offering firm – but vague – support for his fiscal commission’s work. An early version if his report was released yesterday, and it specifically made Democrats very angry (and Republicans as well, over proposed massive defense cuts). Obama’s point? Let’s look at their ideas, avoid the politics and start talking about what makes most sense. That said, though, Obama’s not offering specifics until he sees the full report, which isn’t coming along until December 1. Plus, he’s in Seoul, not DC. source

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Taxpayers fund the commission and they should work independently of Washington lobbyists and power brokers. This is the type of shenanigans that average Americans are so upset about right now – that money talks and everyone else is left out.
National Committee to Preserve Social Security and Medicare founder Barbara B. Kennelly • Explaining why she’s upset about Obama’s fiscal commission. Simply put: it has a weird staffing structure. One out of every four members of its staff don’t get a paycheck from the government and instead get paid by outside groups. This has the effect of making the committee’s staff very diverse, but angers people like Kennelly, a former Democratic congresswoman from Connecticut. Democrats have been concerned the panel leans a little too close to the conservative side and influenced by special interests, something the group disputes. Either way, when it comes to cutting stuff, expect there to be constant debate and complaining. Lots of complaining. source

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$3T the cost to keep the Bush tax cuts for households that make under $250,000 over the next decade
3/4ths of the proposed cuts would be from the Defense Department; the rest would be from tax revenues
250k number of contractors whose jobs would be eliminated under the proposal, saving $18.4 billion source

» How will Congress adopt these ideas? Don’t expect a wholesale adoption of these ideas pushed forward by a bipartisan team of Alan Simpson and Erskine Bowles, but the ideas will definitely push Congress in a fiscally mindful direction.

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11 Nov 2010 09:42