CRFB Co-Chair Leon Panetta Testifies in Support of Fiscal Task Force
Today, Leon Panetta, Co-Chair of the Committee for a Responsible Federal Budget and former White House Chief of Staff under President Bill Clinton, testified before the Senate Budget Committee on Senators Kent Conrad (D-ND) and Judd Gregg’s (R-NH) proposal to form a Bipartisan Task Force on Responsible Fiscal Action. Panetta warned that “Our children are facing a reduced standard of living. We cannot invest in their future by borrowing from their future.”
The task force would be made up of sixteen members who would review all areas of the budget including Social Security, Medicare, and taxes. The task force would be responsible for submitting a set of policy recommendations to improve the federal government’s fiscal imbalances, which would then be considered by Congress on an expedited basis. Panetta praised the bill as an “important and necessary framework” for implementing change, particularly necessary in this time of fiscal crisis.
“We govern by leadership or by crisis,” Panetta asserted to the Committee. “We have a crisis. It’s time for leadership.”
For a full copy of the testimony, please see the attachment.
About CRFB
The Committee for a Responsible Federal Budget is a bipartisan organization committed to educating policy makers and the public about issues related to fiscal policy. The Committee is located at the New America Foundation, and headed by Maya MacGuineas. To learn more, please see the links below or visit www.crfb.org.
Related Programs: Committee for a Responsible Federal Budget
Topics: Fiscal Policy
