Tags: US | Obama | Deficits

Obama Sets up Deficit Panel Without Help From Hill

Thursday, 18 Feb 2010 10:32 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama has announced a new bipartisan commission to take on deficit-reducing responsibilities that Congress has been reluctant to embrace.

The move came a day after he touted the $862 billion economic stimulus program. Obama's administration has been taking an increasing amount of criticism for record-high deficits, and Obama said something has to be done about it.

He said the continuing red-ink trend could "hobble our economy" and "will cloud our future." Obama introduced former White House chief of staff Erskine Bowles, who worked for President Bill Clinton, and Republican former Sen. Alan Simpson as co-chairmen of the panel. The administration has forecast that the deficit will hit a record $1.56 trillion for the budget year ending Sept. 30.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> 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:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Returning Lawmakers Will Get Briefing on Ukraine, Islamic State

Monday, 01 Sep 2014 09:19 AM

Members of the House Armed Services Committee, returning after the five-week August recess, will get a classified briefi . . .

Americans Detained in North Korea Call for US Help

Monday, 01 Sep 2014 08:45 AM

North Korea gave foreign media access on Monday to three detained Americans who said they have been able to contact thei . . .

Marco Rubio Emphasizing Border Security in Immigration Stance

Monday, 01 Sep 2014 08:17 AM

Florida Republican Sen. Marco Rubio is fine tuning his stance on immigration reform in a more conservative direction emp . . .

Most Commented

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