Statement by Former Senator Pete Domenici and Dr. Alice Rivlin on the President's National Commission on Fiscal Responsibility and Reform

Senator Domenici and Dr. Rivlin are Co-Chairs of the Bipartisan Policy Center's Debt Reduction Task Force

WASHINGTON, Feb. 18 /PRNewswire-USNewswire/ -- Former Senate Budget Committee Chairman Pete V. Domenici and former Office of Management and Budget and Congressional Budget Office Director Dr. Alice Rivlin, co-chairs of the Bipartisan Policy Center's Debt Reduction Task Force, released the following statement regarding the President's National Commission on Fiscal Responsibility and Reform, created today by Executive Order:

"We commend President Obama's appointment of former Senator Alan Simpson (R-WY) and former Clinton White House Chief of Staff Erskine Bowles to co-chair the presidential deficit reduction commission. This is a positive development and we earnestly hope that congressional leadership will appoint Members of Congress with significant knowledge of the debt crisis and a commitment to placing all spending and revenue options on the table. The American people will benefit if both political parties immediately and fully engage in a serious effort to reduce our nation's mounting long-term debt that threatens future generations with a crushing and unsustainable debt and a declining economy.

"As co-chairs of the Bipartisan Policy Center's Debt Reduction Task Force, we look forward to contributing significantly to this effort by releasing a specific long-term budget plan by year's end to bring down annual deficits and stabilize federal debt at sustainable levels. Our citizens' Task Force represents a broad cross-section of views, including top budget experts, business and labor leaders, stakeholders, and former elected officials, enabling us to add a vital dimension to this important work for our nation."

Domenici said, "I'm especially pleased that the President's choices are Senator Simpson who I worked closely with in the Senate and Erskine Bowles who I worked with on the Balanced Budget Act of 1997 during the Clinton Administration."

Dr. Rivlin said today on CNBC, "I think that the American public is more aware of the debt crisis than they used to be and they are much more prepared to do something about it than the politicians."

Senator Domenici and Dr. Rivlin appeared today on CNBC regarding the President's National Commission on Fiscal Responsibility and Reform. Watch the video here.

About the Bipartisan Policy Center:

In 2007, former U.S. Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole, and George Mitchell formed the Bipartisan Policy Center (BPC) to develop and promote solutions that can attract the public support and political momentum to achieve real progress. The BPC acts as an incubator for policy efforts that engage top political figures, advocates, academics, and business leaders in the art of principled compromise. For more information please visit our website: http://www.bipartisanpolicy.org/.

SOURCE Bipartisan Policy Center

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