Bipartisan Approach Key To Fixing Budget, Says OMB Nominee

By Kyle LaFleur - Talk Radio News Service

Jacob ‘Jack’ Lew, the president’s choice to become the next director of the Office of Management and Budget, told members of the Senate Budget Committee today that balancing the nation’s budget is going to take compromise and cooperation between parties, an effort he is well-equipped to facilitate.

Lew pointed to agreements he helped broker in 1990 between then-President George H.W. Bush and Democrats in Congress, and in 1997 between President Bill Clinton and the GOP as evidence of his ability to bridge gaps.

“Throughout my career I have tried to work collaboratively across partisan and ideological divides to cut through gridlocks and help solve what seem like intractable problems,” Lew said. “If confirmed as OMB Director, I will work in that bipartisan fashion again with the members of this committee, the leaders of both chambers and with all of those committed to taking constructive steps to rejuvenate our nation’s economy and our fiscal standing.”

If confirmed, Lew would replace Peter Orszag, who stepped down in June. With the nation’s debt approaching $14 trillion and unemployment at nearly 10%, Lew, who perviously served as OMB diretor during the Clinton administration, acknowledged that he has his work cut out for him.

“Our first task is to sustain and deepen the economic recovery to spur new job creation in the face of unsustainable budget deficits,” he said. “At the same time…it’ll take tough choices and putting partisanship aside to do what’s right for the country today, what’s right for our children and what’s right for our grandchildren.”

The battle over Lew’s confirmation is not expected to become too heated, with Republicans and Democrats alike expressing the willingness to support a familiar face.

“I believe Jack is a superb choice for this position,” said the committee’s chairman Kent Conrad (D-N.D.). “When I was asked by the White House my reaction, I told them I don’t think you can make a better choice then Jack Lew.” 

“He’s done it once, he’s here to do it again,” said the committee’s top Republican, Judd Gregg (R-N.H.).

Bipartisan Group Pitches Commission To Examine Federal Overspending

John DuBois - University of New Mexico/Talk Radio News Service

Speaking before the Senate Budget Committee on Tuesday, Rep. Frank Wolf (R-Va.) called for the creation of a bipartisan, 16-member panel to examine federal spending. The "Securing America's Future Economy" (SAFE) Commission would make recommendations to Congress regarding ways to limit overspending and would force lawmakers to vote on them.

According to Sen. Joe Lieberman (I-Conn.) the nation's deficit exceeded $1.4 trillion during the last fiscal year. Lieberman and other Democrats including Sen. Kent Conrad (D-N.D.) are in support of Wolf's proposal, making it a truly bipartisan bill.

Said Conrad, “We must also address the demographic challenge we face in Social Security and the revenue challenge we face from an outdated and inefficient revenue system."

The SAFE Commission mirrors legislation proposed by Wolf and Rep. Jim Cooper (D-Tenn.) in 2006. That bill, called the "Securing America’s Future Economy Commission Act," aimed to reform U.S. tax policy and entitlement benefit programs.

Lieberman argued that implementing Wolf's proposal will effectively help the country get back on the right fiscal track.

“The only way we will be able to make the difficult decisions needed to reduce our national debt is to create a special commission whose sole focus is to develop solutions to the long-term fiscal problems that our country faces,” said Lieberman.

Added Sen. George Voinovich (R-Ohio), “The federal government is the worst credit card abuser in the world and we’re putting everything on the tab of our children and grandchildren.”

“We can continue down the same path, which means that in just 15 years every penny of the federal budget will go toward entitlement spending and retiring our debt, or we can start making the hard choices now," said Wolf.