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Discussion in 'Politics' started by Mr.Fitnah, Mar 28, 2010.

  1. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Sec. 5. Reports.

    (a) No later than December 1, 2010, the Commission shall vote on the approval of a final report containing a set of recommendations to achieve the mission set forth in section 4 of this order.

    Sec. 4. Mission. The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run.

    Specifically, the Commission shall propose recommendations designed to balance the budget, excluding interest payments on the debt, by 2015. This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers.

    The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy.

    In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.
    Executive Order -- National Commission on Fiscal Responsibility and Reform | The White House

    Skepticism is high that Republicans would agree to raise revenues, or that Democrats would slash entitlement spending, in an election year with control of Congress in the balance. But many economists said a mix of tax increases and reductions in the fast-growing entitlement benefit programs — Medicare, Medicaid and Social Security — was essential, as soon as the economy fully recovered, to avert a fiscal calamity in the coming decade.

    Republicans Name 6 to Debt-Reduction Panel - NYTimes.com

    So what in your opinion will be in the final report ?

    How will the government still be able to service the the entitlements as servicing the debt takes up more of the budget?
     
  2. DE3
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    DE3 Member

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    It is too bad that Republicans killed the debt commission that would have had some binding authority.
     
  3. slackjawed
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    slackjawed Self deported

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    They will do what they want, the report is due a month after the midterm elections.
     
  4. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Link?
     
  5. SFC Ollie
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    SFC Ollie Still Marching

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    My crystal ball is in the shop this week. What will they do? This Congress?


    I can't even think about a guess. Other than what ever it is will not be good for America.
     
  6. kyzr
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    kyzr Gold Member

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    This is at least the third attempt at reforming SS & Medicare. I remember the Moynihan Report on Social Security Senator Moynihan's Last Legacy | Michael D. Tanner | Cato Institute: Daily Commentary

    Before the Moynihan "Commission" there were others, I just can't recall their names. IMHO Obama will never address Medicare reform, that would undo his recent healthcare entitlement. Although fixing SS would be a "slam dunk" as he said earlier while campaigning. At best Obama and the dems could fix SS. Then the GOP would need to fix Medicare when it goes bankrupt ~2017.
    If you google "fixing medicare" and "fixing Social Security" you can find many well thought out options. The DC clowns always chose to ignore entitlement reform, until its too late.
     
  7. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    I hope this thread is used for any news or actions.
     
  8. Oddball
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    Oddball BANNED Supporting Member

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    What's the track record of politicians following the recommendations of their goofy commissions and blue-ribbon panels?
     
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  9. slackjawed
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    slackjawed Self deported

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    I am willing to go out on a limb and guess that the record is poor, unless it increases their power and/or wealth.
     
  10. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    So they are going to keep spending and borrowing into oblivion ?
     

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