What the Experts Are Saying About a Bipartisan Fiscal Commission

The Peterson Foundation asked a group of respected policy experts from across the political spectrum to share their views on the benefits of a fiscal commission, how a commission should be structured, and what policies could be included in a bipartisan package to stabilize the debt.

Here’s what they said:

• The experts unanimously agree that the time is right for a fiscal commission to cut through political dysfunction and address our $33 trillion and rising national debt.
• A commission’s makeup should be bipartisan, and comprised of members with a demonstrated commitment to working across the aisle and finding compromise.
• A commission should look at all parts of the budget to craft a balanced package of spending and revenue reforms to reduce the deficit.
• A commission should seek public engagement to help lend political support to its work.
• Buy-in from Congressional leadership and the administration is critically important.
• There should be a defined timeline for a commission’s work, and a process for expedited consideration of its recommendations — e.g., a required vote in Congress.
• Experts recommended dozens of deficit reducing policy options for a commission to include, totaling trillions in savings and spanning mandatory and discretionary spending as well as the tax code.

Read the papers:

• Heidi Heitkamp, University of Chicago
• G. William Hoagland, Bipartisan Policy Center
• Leon E. Panetta, The Panetta Institute for Public Policy
• Robert Portman, American Enterprise Institute
• Brian Riedl, Manhattan Institute
• Ben Ritz, Progressive Policy Institute
• Sita Slavov, Schar School of Policy and Government, George Mason University
• Mark Zandi, Moody’s Analytics
• Dana M. Peterson and Lori Esposito Murray, The Conference Board

Related: With U.S. Interest Costs Skyrocketing, Voters Overwhelmingly Call for Fiscal Commission

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