Debt reduction ‘supercommittee’ to meet
On the eve of Thursday’s first public meeting of a new congressional deficit reduction “supercommittee,” party leaders say they are confident the panel will rise above partisan rancor - despite wide disagreement on how best to achieve its goal.
“We have put very serious people on there who are interested in getting an outcome for the country, and we fully anticipate they will meet their goals.”
Senate Majority Leader Harry Reid, Nevada Democrat, said initially he wasn’t sold on the idea of the committee but “now believes it will be an effective vehicle for cutting spending and growing economy.”
Mr. Reid added he won’t “micromanage” the three Senate Democrats he appointed to the panel, which is charged with finding as much as $1.5 trillion to trim from the federal deficit during the next decade.
“I have made it very clear to each one of them that I want to work with them and to use whatever influence and abilities I have to accomplish success in aiding a consensus within the committee,” he said.
Lawmakers from both parties have said the committee should incorporate ideas from past congressional groups that searched for ways to cut the debt and deficit, including a panel headed by former Republican Sen. Alan Simpson and former President Clinton’s chief of staff, Erskine Bowles, and another led by former GOPSen. Pete Domenici and former Bill Clinton adviser Alice Rivlin.
House Majority Leader Eric Cantor, Virginia Republican, said he hoped the supercommittee also will glean ideas from another deficit reduction group lead this year by Vice President Joseph R. Biden, a panel on which Mr. Cantor was a member before walking away in frustration.
“I’m hopeful the joint select committee can use those findings [from the Biden group] as a basis for their work,” he said.
Just where the savings can be found is uncertain.
Edwin Park, vice president for health policy at the Center on Budget and Policy Priorities, said he is worried that potential cuts that would reduce the federal government’s share of paying for entitlement programs would leave states to pick up more of the tab - such as a widely touted proposal to cut Medicaid costs by transforming the program into block grants.
“What we’re most concerned about is many of the deficit reduction ideas on the table are actually about shifting costs,” Mr. Park said. “They don’t actually control health care costs.”
Democrats are pushing for a jobs package to accompany the deficit plan, saying the two go hand in hand.
“You can’t bring down the debt and deficit in the long term if you don’t grow the economy,” Mr. Hoyer said. “This is a two-pronged attack that we must have.”
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