Republicans Balk at Obama’s Debt-Cutting Commission
January 23rd, 2010 Posted in National Debt
The Obama administration’s bid to make a bipartisan debt-reduction commission the centerpiece of its budget plans received a serious blow Wednesday when leading Republicans blasted the idea.
Underscoring the problem, the Senate is poised to vote to raise the national debt ceiling by $1.9 trillion, just weeks after a $290 billion increase at the end of 2009. The debt currently stands at $12.322 trillion.
Less than a day after congressional Democrats and the White House reached a tentative deal to use an executive order that would establish a bipartisan commission to tackle the problem, the effort appeared to be on life support.
Read the full article at the Wall Street Journal