Tags: Economic- Crisis | Sperling | debt | deficit | super committee

WH Adviser Sperling: 'Super Committee' Might Tap Wealthy

By Hiram Reisner   |   Monday, 01 Aug 2011 09:32 AM

White House economic adviser Gene Sperling says the “super committee” that the proposed debt deal empowers to review how to shore up the nation’s fiscal standing might turn to higher-income Americans for a larger contribution.

Gene Sperling, White House, economic adviser, super committee“We do have a bipartisan commission coming forward, in which the president gets to make his case to [Congress] and the American people that we need shared sacrifice,” Sperling said Monday on MSNBC’s “Morning Joe.” “Only a small group of people in our country want to see deficit reduction done on the backs of seniors, the middle class, and students — and no one [has] asked those most well-connected, or most well off, to contribute at all through additional revenues and tax reform.”

Sperling was asked whether it is true that the “super” committee that will review the debt situation cannot raise taxes.

“That is just not true,” Sperling said. “If you have a ‘super’ committee, and people are announcing before it even starts that they’re going to take a hard line and not compromise — well that’s unfortunate.

“But let’s remember that, in the Senate side, there were over 15, 16 Senate Republicans who signed on . . . on the Gang of Six proposal — a bipartisan proposal in the Senate, in which people asked for shared sacrifice and revenues that were more significant than what the president had called for — and 16 Republicans said they wanted to be part of an agreement like that,” he said. “So I think there are a few who are isolated — who want to put all of the burden on Medicare, on seniors, and working families — but I think now that we can have a real national debate, the public will want to join with those who want shared sacrifice.”

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