You Can Redefine Success, But Can You Redefine Debt?

By September 29, 2010Economy

With a December 1 deadline for recommendations two months away, the President’s Debt Commission  today held their fifth public meeting to hear from budget experts on performance budgeting and ways to eliminate wasteful spending.  The bipartisan commission’s task—to recommend ways to balance the budget by 2015 and improve the country’s long-term fiscal outlook—is daunting. On top of that, the recommendations need to be approved by 14 of the 18 commission members. 

Manufacturers increasingly are concerned about the impact of the current historically-high levels of the federal deficit and the national debt on manufacturing and our employees and the overall U.S. economy and support the commission’s effort to find ways to get out fiscal house in order.  To that end, the NAM yesterday sent a  letter   to the Commission outlining our recommendations on how to approach critical spending and tax issues. 

No official word yet on how things are progressing but many experienced tax and budget policy professionals don’t expect to see much. An experienced Washington  hand observes that while some good ideas probably will come out of the commission, don’t expect a comprehensive plan. “They need to redefine success,” he adds.

Dorothy Coleman

Dorothy Coleman

Dorothy Coleman is vice president of tax and domestic economic policy at the National Association of Manufacturers (NAM). Ms. Coleman is responsible for providing NAM members with important information related to tax issues and representing the NAM’s position to Congress, the Administration and the media. An NAM spokesperson for tax policy issues, she coordinates membership coalitions; prepares testimony, reports and analyses; and responds to media inquiries. Before taking over as vice president of the tax policy department, she served as director of tax policy from April 1998 to April 2000.
Dorothy Coleman

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