Tags: US | Obama | Deficits

Obama Sets up Deficit Panel Without Help From Hill

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 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
Newsfront
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...
US,Obama,Deficits
120
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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