Monday
Jan252010
Republicans And Democrats Team Up To Fight Federal Debt
Monday, January 25, 2010 at 4:26PM
By Antonia Aguilar-Talk Radio News Service/University of New Mexico
The Bipartisan Policy Center announced Monday the launch of its Debt Reduction Task Force. The task force will be led by former Senator Pete Domenici (R-N.M.) and Dr. Alice Rivlin, a former Federal Reserve vice-chair. Domenici and Rivlin will oversee a panel of leading authorities charged with the task of creating a plan to stabilize the federal debt.
“To borrow a phrase from Will Rogers, the economics of America is in a deep hole... what do you do when you find yourself in a deep hole? You stop digging,” said Domenici. Economic growth will not be enough to solve the federal debt, said Domenici, adding that possible tax increases should be on the table.
“I can’t think of many challenges more important to address then the soaring indebtedness that our country now faces," said former Senate Majority Leader Tom Dashcle (D-S.D.). "A bipartisan approach is really the only one that can work."
The Bipartisan Policy Center announced Monday the launch of its Debt Reduction Task Force. The task force will be led by former Senator Pete Domenici (R-N.M.) and Dr. Alice Rivlin, a former Federal Reserve vice-chair. Domenici and Rivlin will oversee a panel of leading authorities charged with the task of creating a plan to stabilize the federal debt.
“To borrow a phrase from Will Rogers, the economics of America is in a deep hole... what do you do when you find yourself in a deep hole? You stop digging,” said Domenici. Economic growth will not be enough to solve the federal debt, said Domenici, adding that possible tax increases should be on the table.
“I can’t think of many challenges more important to address then the soaring indebtedness that our country now faces," said former Senate Majority Leader Tom Dashcle (D-S.D.). "A bipartisan approach is really the only one that can work."
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