Deficit Hawks Simpson and Bowles: Skirt the Sequester
February 19, 2013
Congress must replace upcoming “dumb” across-the-board budget cuts with targeted spending cuts and sweeping changes to tackle the nation’s debt without restricting economic growth, the former co-chairs of President Obama’s debt commission say in a revamped bipartisan proposal for fiscal restraint.
Erskine Bowles, Bill Clinton’s former chief of staff, and former senator Alan Simpson, a Republican from Wyoming, were scheduled to appear at a Washington breakfast hosted by Politico on Tuesday to promote their renewed call for fiscal restraint under the banner of the Campaign to Fix the Debt.
The looming cuts, called a “sequester,” will cut defense and social programs across the board starting March 1 — a consequence that threatens to slow economic growth and cost jobs. The White House argues that the sequester will impact the nation’s security as well as programs that help the most vulnerable Americans.