President

Updated November 25, 2009

White House Mulls Panel to Tackle Deficit

WSJ

The idea is to bring Republicans and Democrats together to make tough decisions about how to cut costs or raise revenue in areas including Social Security, Medicare and taxes. 

The White House is considering a bipartisan commission to tackle the nation's swelling deficit, as it seeks to show resolve on a problem that threatens its broader agenda.

Top White House officials, including budget director Peter Orszag, met Tuesday with Senate Budget Committee Chairman Sen. Kent Conrad to discuss establishing such a commission, which has been pushed by Conrad, a North Dakota Democrat, and his Republican counterpart on the committee, Sen. Judd Gregg of New Hampshire.

Senior congressional officials said the idea was gaining traction. Two officials said the White House was likely to make its own proposal for a panel, which could have less power than the proposed Conrad-Gregg commission. White House aides said no final decision had been made.

The idea is to bring Republicans and Democrats together to make tough decisions about how to cut costs or raise revenue in areas including Social Security, Medicare and taxes. For the White House, establishing a commission would show that the Obama administration is serious about tackling the deficit while postponing any real moves until after the 2010 elections.

The federal budget deficit swelled to a post-World War II record of $1.4 trillion in fiscal 2009 and isn't expected to shrink much this year. The White House budget office has already asked each cabinet department, except for defense and veterans affairs, to submit two budgets for fiscal 2011 -- one freezing spending at current levels, the other cutting spending by 5 percent.

Continue reading at the Wall Street Journal. 

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