Expert Views: Fiscal Commission | Peter G. Peterson Foundation
As our $33 trillion national debt continues to rise, 9 in 10 Americans support the establishment of a bipartisan fiscal commission to put forth real solutions to our fiscal challenges. We asked respected policy experts from across the ideological spectrum to share their views on why a commission is needed, how it should be structured, and which policies could help stabilize the debt.
The Fiscal and Economic Experts
Former U.S. Senator (ND) and Director of Institute of Politics
University of Chicago
To Get Our Fiscal House in Order: Put Politics First
Senior Vice President
Bipartisan Policy Center
Fiscal Commissions: Promises and Disappointments
Former U.S. Secretary of Defense and Chair
The Panetta Institute for Public Policy
Our National Debt: The Choice between Leadership or Crisis
Former U.S. Senator (OH) and Distinguishing Visiting Fellow in the Practice of Public Policy
American Enterprise Institute
A Bipartisan Tool to Improve America’s Fiscal Future
Yes, Fiscal Commissions Can Succeed with a Committed Congress
Director, Center for Funding America’s Future
Progressive Policy Institute
Setting Up a Fiscal Commission for Success
Professor of Public Policy
Schar School of Policy and Government, George Mason University
Making Tough Fiscal Choices to Protect Future Generations
A Way to Brighten America’s Dark Fiscal Outlook
Dana M. Peterson
Chief Economist & Center Leader of Economy, Strategy & Finance
The Conference Board
Lori Esposito Murray
President of the Committee for Economic Development
The Conference Board
The Debt Crisis Is Here
Questions Posed to the Experts
- What are the benefits of establishing a bipartisan fiscal commission to propose comprehensive reforms to stabilize the debt?
- How should a commission be structured to give it the best chance of success?
- Propose at least three structural spending or revenue reforms that would decrease deficits over the long term, and could be included as part of a bipartisan package.
A note from Michael Peterson
Chairman and CEO of the Peterson Foundation
Earlier this year, our nation narrowly avoided a debt ceiling default and we are now staring down a deadline for a potential government shutdown. These repeated, self-inflicted crises and budget brinksmanship harm the economy and are not actually addressing the true drivers of our $33 trillion and rising national debt.
What we need is a serious, substantive and comprehensive approach to solving the long-term structural imbalances of our budget. A new bipartisan commission would enable an important national dialogue on this fundamental challenge to our nation’s fiscal and economic future.
We asked a group of respected policy experts to share their views on how a bipartisan fiscal commission could help break this cycle of fiscal governing-by-crisis and enable a more focused and productive discussion of our fiscal challenges. These nine new essays feature a range of insights on the best way to structure a commission for success, as well as recommendations for specific spending and revenue policies that would reduce the deficit and could be included in a bipartisan package.
The concept of a commission is gaining momentum among leaders in Washington, and American voters strongly agree. We hope that the ideas presented here in Expert Views: Fiscal Commission can help provide valuable recommendations toward fiscal solutions that are critical to America’s future.