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Told You So: Democrats on Debt Panel Don't Propose Spending Cuts

Wednesday, April 28, 2010 3:17 PM Add to Facebook Add to Twitter

Yesterday saw the first meeting of President Obama's debt panel.  ATR and CFA have long warned that it is unlikely anything good will come out of the commission's deliberations from a taxpayer standpoint.  And, lo and behold, the first meeting seems to only confirm our concerns.

During yesterday's meeting, the Democratic members of the President's commission, modeled after the Conrad-Gregg commission proposal we have been warning against for months, had little to provide other than the often repeated mantra that "everything has to be on the table:" J.P. Freire at the Washington Examiner quotes Congressman Jeb Hensarling (R-Texas):

“I don’t know,” Rep. Jeb Hensarling, R-Texas, responded to a question from the Examiner. “If you’re saying what spending reductions are Democrats looking at, I don’t know.” He has not heard any discussion of restraint on spending from Democratic members of the National Commission on Fiscal Responsibility and Reform, even though he has frequently heard the refrain “everything is on the table.”

The attempt at re-branding the President's promise not to raise taxes on anyone making less than $250,000, along with the composition (and chairmanship) of the commission and history serving as a guide when it comes to bipartisan deals that put everything on the table do not bode well for taxpayers - and nothing we heard yesterday leads us to believe otherwise.

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