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Mr.Fitnah

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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?
 

DE3

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

SFC Ollie

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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.
 

kyzr

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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.
 
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Mr.Fitnah

Mr.Fitnah

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What's the track record of politicians following the recommendations of their goofy commissions and blue-ribbon panels?
So they are going to keep spending and borrowing into oblivion ?
 

The Rabbi

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What's the track record of politicians following the recommendations of their goofy commissions and blue-ribbon panels?
And what's the price when a POTUS commissions one, and then completely ignores thier findings?

Obama did just that.

Blue ribbon commissions are like melons. You keep going until you get the one you want.
 
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editec

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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?

IF we attempt to balance the budget in the middle of this recession?

Disasterous consquences for this economy will ensure.

STUPID STUPID STUPID idea!

This was EXACTLY the mistake FDR made, too.

His NEW DEAL was working.

And then he was talked into trying to reduce national debt and the unemplyment went BACK UP.

Had it not been for WWII we might never have recovered.
 

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