CNN/Fareed Zakaria Interviews Simpson & Bowles

Good friend Sandy Parker put this interview up on Facebook. (The link is below.) It is a must-read interview with Alan Simpson and Erskine Bowles by Fareed Zakaria on CNN's GPS. It provides an understanding of what's at stake in the budget process at the end of this year, which is essential for anyone who is concerned about a prudent and effective approach to our national budget, strengthening our economy, and working our way out of an outsize budget deficit. 

The Simpson-Bowles committee recommendations of late 2010 comprised just such a balanced approach. But both the Republicans and Democrats responded reflexively, dismissively, because it required too much compromise on their own sacred policies and programs. President Obama, the interview makes clear, supported it, but recognized that the congress was not ready for reason and compromise--as we all found out in suffering through the ugly, embarrassing process of raising the debt ceiling. But now, with approximately $7 trillion dollars (2% of GDP) in "economic events," budget issues, presenting themselves for decision at the end of this year, the right balance of legislative wisdom and compromise must be brought to bear in addressing these budget issues and policies--or the country will likely be the worse for it. 

Click on this link:

http://transcripts.cnn.com/TRANSCRIPTS/1205/27/fzgps.01.html