We at Delve Into ‘12 found today’s Simpson-Bowles Alternative Budget plan release encouraging: It’s an effort by lawmakers on both sides of the aisle to reduce the debt. The plan would slash the current deficit by more than $4 trillion over a decade by enforcing tax code and social security reforms, among other things. The proposal is based off of the recommendations from the Simpson-Bowles Fiscal Commission.
The Committee for a Responsible Federal Budget was similarly inspired by the bipartisan action.
"These courageous lawmakers have shown that debt reduction need not be a partisan and divisive issue, and that we can put the national interest above all else," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, in a CRFB press release. "In a time of so many partisan proposals for dealing with rising debt, it is truly a breath of fresh air to see these leaders working together on a bipartisan solution - one that makes the tough choices to set the country on the right path."
It's heartening to see these lawmakers push to keep the Bowles-Simpson framework in the mix of deficit reduction plans. Check out the CRFB press release here, and a Wall Street Journal story about the plan here.