On the recordSeptember 7, 2016
Had it been actually a legislative vehicle versus a commission, we probably would be out of the woods right now on our deficit and debt issues.
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congress.govHad it been actually a legislative vehicle versus a commission, we probably would be out of the woods right now on our deficit and debt issues.
Suggests that Simpson-Bowles could have resolved deficit issues if passed as legislation.
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I think Simpson-Bowles got it right on this point. We reduced deductions and exemptions so that we generated $1.1 trillion of revenue every year.
When this stimulus was put together, so much of it basically became, as I said earlier, walking around money for appropriators.
I supported it numerous times. My point there was that there were--a balanced-budget amendment is going to take years to ratify.