The Center’s executive director, Robert Greenstein, and its director of federal fiscal policy, James R. Horney, have issued a statement on the new deficit reduction plan that the co-chairs of the President’s fiscal commission announced today:
The new deficit reduction plan that the co-chairs of the President’s Commission on Fiscal Responsibility and Reform — former Clinton White House Chief of Staff Erskine Bowles and former Republican Senator Alan Simpson — presented today to commission members contains a number of relatively modest changes to the plan they proposed last month. Like that plan, the new version includes various useful recommendations that would contribute significantly to deficit reduction. But, as a package, the plan falls well short of a balanced approach to deficit reduction, as their earlier plan also did.
Read the rest of this statement here.