And there may not have been legislation, but I said they would start getting to it. First they test the waters with Obama saying he didn't think so, then they get others in the administration to publicly talk about it and see if we all get pissed. Then they slowly work into the president listening to ideas about it, then....................small steps. Small steps.
WASHINGTON -- Everything is on the table when it comes to finding a way to get America out of debt, according to President Obama's newly appointed debt commission, meaning a value added tax could be headed to a product near you.
Former Wyoming Republican Sen. Alan Simpson will join former Clinton Chief of Staff Erskine Bowles to lead the elite18-member debt commission convening Tuesday -- a panel appointed by Democrats and Republicans to come up with a plan to save America from its spendthrift ways.
The commission's charge is to produce a deficit no bigger than $550 billion by 2015, an amount equal to about 3 percent of the total U.S. economy. That would require deficit savings in the range of $250 billion or more.
The deficit for last fiscal year, which ended Sept. 30, was $1.4 trillion. Many projections show the yearly deficit not dipping below 4 percent of the economy over the next decade.
Might not be 3 weeks
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