Gregg, Ryan Praise Obama's Deficit Commission

Wednesday, 07 Jul 2010 02:58 PM

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Congress’s leading GOP budget hawks are praising a White House commission tasked with winding down trillion-dollar deficits.

Rep. Paul Ryan of Wisconsin and Sen. Judd Gregg of New Hampshire, the senior Republicans on the House and Senate Budget committees, have praised a proposal by the fiscal panel’s Democratic co-chairman, Erskine Bowles, to limit government spending and revenue to 21 percent of gross domestic product, according to The Hill.

Both Ryan and Gregg have tried to focus on spending cuts rather than tax increases as a way to balance the budget.

“I like Erskine a lot,” Ryan said of Bowles, a former White House chief of staff in the Clinton administration. “He’s becoming my new favorite Democrat. He’s in the ballpark. We’re getting near the target if that’s the case.”

Gregg said spending and revenue limits like the ones Bowles has suggested would be “incredibly positive.”

“Get spending down and revenues up. … That would be very close to a stable situation,” Gregg told The Hill.

Read the entire story at The Hill


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