Deficit Gurus: Glass Still 'Half-Full'

Bowles and Simpson see time to improve Obama budget
By Mark Russell,  Newser Staff
Posted Feb 20, 2011 7:31 AM CST
Co-chairs of the National Bipartisan Commission on Budget Reform and Fiscal Responsibility, Erskine Bowles and Alan Simpson listen during a national debt forum, Wednesday, Dec. 8, 2010.   (AP Photo/The Wyoming Tribune Eagle, Michael Smith)
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(Newser) – Erskine Bowles and Alan Simpson think that President Obama's proposed budget "goes nowhere close" enough in reducing the US deficit, but the deficit-reduction panel's co-chairs say they "see the cup as half-full." "[We] think there is the real possibility that a bipartisan deficit reduction plan can make it to the president's desk by year's end," write Bowles and Simpson in the Washington Post.

While praising Obama for "taking some positive first steps," much more is needed. "Sadly, the president does punt on the larger issues," such as health care costs and tax reform. "In the end, we are optimistic about the chances for fiscal reform," they write. "The political system doesn't always move quickly or steadily, but the magnitude of the challenges ahead will require it to act. Now is the moment of truth."

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