The moral of the story is, if the leaders of both parties don't want a commission to succeed, if the leaders of both parties aren't willing to put both parts of the budget, taxes and spending, on the table, the chances that it is going to have a successful outcome are going to be low.
Stresses the importance of bipartisan cooperation for commission success.
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I want to thank Congresswoman Gwen Moore for suggesting this hearing and for her role in bringing it about and putting it together.
Over the last year and a half some truly extraordinary steps have been taken, including the so-called TARP program, the Recovery Act program, and the Fed's own actions to make an extraordinary amount of collateralized loans to its member…
Thank you for your excellent testimony and for the fine work that the General Accounting Office has done for us.
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