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Report: Bowles to head Obama deficit panel

Posted February 16, 2010

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— Outgoing University of North Carolina President Erskine Bowles is in line to chair a bipartisan commission to solve the federal government's budget problems, The Washington Post reported Tuesday.

Bowles announced last Friday that he would step down from his post overseeing the state's 16 public universities by the end of the year. He has headed the UNC system since January 2006.

President Barack Obama plans to name Bowles and Alan Simpson, a former Republican senator from Wyoming, to lead the commission on Thursday, when he intends to sign an executive order creating the panel, the newspaper said, citing an administration official who spoke on condition of anonymity.

The commission will be charged with coming up with a plan to raise taxes and cut federal spending to significantly reduce projected budget deficits by 2015.

Bowles, who served as chief of staff to former President Bill Clinton, said last week that he didn't want to involve himself in partisan politics again.

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  • 5Rs Feb 17, 2010

    "You failed to explain how the economy was booming in the 90s under Clinton after he raised taxes." - Bill Brasky

    Easy explanation for the '90s boom. A new economic curve - the Internet - drove millions of new jobs. When the dotcom bust hit, Clinton left Bush with a recession.

    NOTE: The new economic curve, as all significant advances in our country have, came from the private sector, not from government.

  • 5Rs Feb 17, 2010

    "We need to have fiscal responsibility returned to Washington."
    - wildervb

    Something we can agree on, great. Vote out the current big spenders like Price and Miller. Return sanity to Washington.

    Bush was not conservative. A conservative is conservative fiscally, environmentally, militarily and socially, and expects people to earn their way when they can.

  • Bill Brasky Feb 17, 2010

    Now, answer my questions, Bill, and wild...Why do you want the gov't to do more? They have proven to any thinking person they can do little effectively and efficiently, so why give them more money and power and control over your lives?

    Right, its funny how Republicans have the nerve to tell us the government doesn't work, then we elect them and they prove it.

    Just like anything in life, if it doesn't work, fix it. The United States goverment is vital for this country and its citizens. We all saw what happens when we let corporations make the calls....economic meltdown. We need a strong government to protect us.

  • jet2rdu Feb 17, 2010

    This sure looks like a PR stunt. If the President really wants a head person to control our deficits, he does not need to provide another resume line item for Bowles, all he really needs to do is look in a mirror for leadership.

    The only positive item is if Bowles takes the job, it looks like he does not need any travel expenses, since all the deficit creators are located within the Capital Beltway.

  • p02h03 Feb 17, 2010

    Bill Brasky - "You failed to explain how the economy was booming in the 90s under Clinton after he raised taxes."

    That was not part of my argument. Sure, the economy can do well in such a case, but it would have done better had the tax increases not occured.

    Now, answer my questions, Bill, and wild...Why do you want the gov't to do more? They have proven to any thinking person they can do little effectively and efficiently, so why give them more money and power and control over your lives?

    " with a few unneccessary insults" - perhaps you're right. But, I for one, and sick and tired of people like you thinking that taking more of my money and giving it to the gov't is somehow going to make things better. Look at history, it's only made it worse. So answer this Q: How much extra to you give the gov't each year in taxes from what you owe? My guess is 0. Reach into your own pocket for a change.

  • prazgod3 Feb 17, 2010

    I say Good Riddance.

  • Bill Brasky Feb 17, 2010

    "When you take money from people via taxes, they have less to spend. When they have less to spend, guess what? They spend less. Now, do I have to explain what happens when they spend less because they have less money? Please. You're hopeless. Go vote for the liberals. If you're so smart, how come you want them to spend your money?"

    Nice spin, with a few unneccessary insults. You failed to explain how the economy was booming in the 90s under Clinton after he raised taxes. Or, a great example during the 1950s when we had the highest tax rates, and yet the most robust economy ever.

    Yet you ignore the fact that Bush's tax cuts are still in effect and our economy is in shambles.

  • Smokin Feb 17, 2010

    One question I haven't seen asked is--if Bowles is still on boards of directors whose companies benefited from the bailout (aka large deficit spending)and chairs a committee looking into deficit spending, isn't that a conflict of interest?

  • p02h03 Feb 17, 2010

    wildervb - "Now can you explain to me how you cling to the notion that tax increases always slow the economy down."

    Well, it's common sense, so no wonder you need it explained. You obviously have never run a business.

    When you take money from people via taxes, they have less to spend. When they have less to spend, guess what? They spend less. Now, do I have to explain what happens when they spend less because they have less money? Please. You're hopeless. Go vote for the liberals. If you're so smart, how come you want them to spend your money?

  • p02h03 Feb 17, 2010

    wildervb - "Taxes were increase several times in the 80s after the initial tax cuts were passed."

    In comparison to the initial cuts, they were nothing. Study history...top marginal rate in 1980 was 70%. It was cut to 28%. Get a clue.

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