U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare
“This country’s out of money and we better start thinking,” said Erskine Bowles, co-chairman of the panel. Without “tough choices,” Bowles said, “we’re on the most predictable path toward an economic crisis that I can imagine.”
Bowles, former President Bill Clinton’s chief of staff, and former Senator Alan Simpson, a Wyoming Republican, announced the proposal in Washington today, stressing that it was intended as a starting point for discussion.
National Commission on Fiscal Responsibility and Reform