Issue Position: Fiscal Commission

Issue Position

On February 18, 2010, President Obama created by Executive Order, the National Commission on Fiscal Responsibility and Reform. I was honored to be appointed to serve as one of the 18 members of the Commission by Speaker Nancy Pelosi. The Commission is charged with "identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run." The Commission is scheduled to issue its report by December 1, 2010. At least 14 of the 18 Commissioners will have to vote in favor of the recommendations.

I appreciate President Obama's leadership in addressing the long-term fiscal challenges that we face, which are in large part due to the Bush Administration's policies of tax cuts for the very rich and two unfunded wars. I am working with my fellow members to look at how to eliminate waste and inefficiency in government programs, close tax loopholes that benefit companies that are taking American jobs overseas, and bring down the deficit overall. I believe we must do so in a way that protects Medicare and Social Security, ensures that Medicaid remains strong, and continues the critical investments that will push our economy on a path towards recovery.

This Congress and this President have already prioritized policies that will help us through this economic downturn and invest in initiatives that will strengthen our future economy, ultimately reducing the deficit and the debt. For example, the fiscal year 2010 budget resolution prioritized health care reform, education, and investments in renewable energy and energy efficiency. We cannot address our current economic crisis, set our nation on a path to be competitive in the global economy, and raise the living standards of all Americans without addressing those critical needs. If we don't make the investments now to create jobs and help our economy recover, future growth would be much lower and deficits higher.

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