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 This material may not be published, broadcast, rewritten or redistributed.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:
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

John Kerry: Obama Won't Bypass Congress on Iran Negotiatiions

Wednesday, 22 Oct 2014 06:12 AM

U.S. Secretary of State John Kerry says the Obama administration has no intention of cutting Congress out of the loop on . . .

AP Poll: Women Turning to GOP as Obama, Democrats Plunge

Wednesday, 22 Oct 2014 06:06 AM

Two weeks before Election Day, most of the nation's likely voters now expect the Republican Party to take control of the . . .

Immigration Official: Agency 'Going to Be Ready' for Obama Orders

Tuesday, 21 Oct 2014 23:37 PM

The Obama administration is readying executive orders that would benefit as many as 11 million illegal immigrants in the . . .

Most Commented

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