Tags: gregg | deficit | task | force

Gregg Presses for Task Force on Deficit

Wednesday, 09 Dec 2009 01:31 PM

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink

WASHINGTON – US Senators called Wednesday for the creation of a "task force" to find ways to curb the soaring long-term US budget deficit and report back to Congress after the November 2010 mid-term elections.

Senate Budget Committee Chairman Kent Conrad, a Democrat, and Senator Judd Gregg, the panel's top Republican, unveiled a bill that would establish such a special body with 10 Democrats and eight Republicans.

The proposal, similar to a plan floated in 2007 without success, would aim to examine ways to reduce the deficit, which the White House forecasts will reach a whopping 1.502 trillion dollars in fiscal 2010.

Special: Get Sarah Palin’s New Book – Incredible FREE Offer -- Click Here Now.

"We face a perfect storm of exploding debt, brought on by rising health costs, a retiring 'baby boom' generation, and an outdated and inefficient revenue system. Now is the time to act," said Conrad.

"It is no longer enough for Congress to simply talk about reform; it is time for action and leadership," said Gregg.

The task force, grouping members of the US Congress and President Barack Obama's administration, would report back to Congress after the 2010 elections, and a majority of 14 members would be needed to publish any report or recommendation.

© 2014 Newsmax. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved