Debt Panel Head: Congress Must 'Face Up' to Issue

Debt Panel Head: Congress Must 'Face Up' to Issue

Published November 15, 2010

WASHINGTON – The co-chairman of President Barack Obama's deficit reduction commission says Congress has to "face up" to a red-ink problem that threatens America's future.

Democrat Erskine Bowles tells ABC's "Good Morning America," that he and Republican co-chairman Alan Simpson recommended sharp spending cuts because "the path we're on is unsustainable. The debt we are building up is like a cancer."

The pair endorsed a series of proposals, including raising the Social Security retirement age and slashing the home mortgage interest deduction, to slash the deficit by $4 trillion over the next decade.

President Barack Obama initially was noncommital, calling for a close review of the report. But the recommendations drew harsh criticism from members of both parties.v

Written by Associated Press


Latest in news

Soul Train Awards ‘18

Sunday, Nov. 25 8P/7C

Hosted by Tisha Campbell & Tichina Arnold