The Obama Fiscal Challenges

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During president Obama’s first term presidency, he created the bipartisan national commission on the fiscal responsibility and reform to address out nations fiscal challenges. The duty of the commission is to identify policies that will improve the fiscal situation in short term and sustaining it over long run. The commission is designed to balance the budget issue, including changes to the growth of entitlement spending and the gap between the projected revenues and expenditures of the United States government. The commission held meeting once a month, it will vote on a final report containing a set of recommendations on December 1, 2010. Commission’s work has never been fully embraced by the president or congress. The commission did provide us with some insight to the fiscal issues United States faces, buts its recommendations that they provided us are still under consideration toady. The commission on fiscal responsibility and reform is run by two co-chairman, Alan Simpson and Erskine Bowles, along with eighteen members. Alan Simpson, he was a republican senator from Wyoming. He is a conservative and an opponent of government regulations, he also outspoken advocate for abortion, gay and lesbian rights and equality for all persons regardless of race, color, gender, and sexual orientation. Senator Simpson severed the Republican Party in 1985 to 1995, chairman of veterans’ affairs committee from 1981-1987 and 1995-1997, after he was retired from politics he taught at Harvard University and severed as director of the institute of politics, later he moved back to Wyoming severs as co-chairman of Americans for Campaign Reform, which is the political effort to change money involved in politics (biography.com). On the other hand Co-... ... middle of paper ... ... tap into this budget. If so it would defeat the whole purpose. Establish cut-and-invest committee, it can cut low-priority spending, increase high-priority investment, and consolidate duplicative federal programs. Cut-and-Invest Committee would expected to cut 200 billion dollars in discretionary cuts, freezing up to 100 billion dollars in high-priority investments. Downside to this may be losing a lot of blue collars jobs in current economy. I think it’s a good idea it might lose jobs but it will a lot increase a lot federal job since and it manage what is necessary and what isn’t. This component is a good way to cut down on discretionary spending and save the country billions of dollars but it will a lot hurt the economy in a lot of ways. We need to elaborate on the reform, and not completely ignore the reform like Obama has been doing for the last three years.

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