John E. Morton, managing director of the Pew Economic Policy Group issued the following statement in light of today's first meeting of the National Commission on Fiscal Responsibility and Reform.
“We applaud President Obama's establishment of the blue ribbon, bipartisan National Commission on Fiscal Responsibility and Reform. The Commission has been charged with addressing one of the most pressing economic and political challenges facing the United States today – the nation's unsustainable debt burden. As the disturbing data and trends clearly show, the question is not if our current fiscal and budget policies need to change, but when and how“.
“Pew's analysis confirms that no single policy tool, spending cuts or tax increases alone, will be sufficient to restore the nation's fiscal health.”
“We encourage the Commission to tackle its charge with a commitment to bipartisan solutions and a recognition that tough choices and shared sacrifice lie ahead. The longer we wait to tackle our problems, the stronger the medicine will ultimately have to be.”
Pew is no longer active in this line of work, but for more information, visit the main Pew Financial Reform page.