[This article appears in this week's Tri-County Press]
President Obama and House Speaker John Boehner hit the links last weekend for a round of golf. Former White House Press Secretary Robert Gibbs suggested the two could work out their differences on the course.
Could a game of golf lead to progress on reducing the deficit and long-term debt?
If I had been given the opportunity, I would have suggested creating a foursome by including Senators Mark Warner (D-Va.) and Saxby Chambliss (R-Ga.) Warner and Chambliss are co-chairs of “the gang of six” – the group of Senators attempting to craft legislation based on the recommendations of The National Commission on Fiscal Responsibility and Reform. The “gang of six” is being encouraged by policy makers in both parties – recognized as the last, best hope for a comprehensive, bipartisan deficit reduction agreement in the current Congress.
Under the leadership of Erskine Bowles and Alan Simpson, the President’s National Commission on Fiscal Responsibility and Reform has shown a way forward – based on broad bipartisan support and the principle of shared sacrifice.
The population is aging – which means Social Security and Medicare costs will rise. And, health care costs continue to grow faster than the economy.
We can address these challenges – our obstacles are not economic; they are political.
The Commission’s plan would cut $1.7 trillion in discretionary spending (both defense and non defense) – while investing in education, infrastructure and research and development.
It would cut $600 billion in mandatory spending by reducing health care costs and reforming federal pensions – while protecting programs for the less fortunate.
It would reform the tax code by eliminating tax breaks in order to reduce tax rates – while generating $1 trillion in new revenue.
It would make Social Security solvent for the next 75 years through a combination of progressive changes to the benefit formula, a gradual increase in the retirement age and an increase in the amount of income subject to the payroll tax.
In total, the Fiscal Commission’s recommendations bring annual deficits to manageable levels of 1 percent – 2 percent of GDP and put the debt on a downward path after 2013.
The recommendations prove we can bring the debt under control without hurting the disadvantaged or stifling investment and growth.
So, President Obama, Rep. Boehner, I hope you had a great round of golf!
Your conversation was more important than your scores.
Richard O. Schwab was formerly associate head of school and middle school head, Cincinnati Country Day School. He is also neighborhood team leader, Glendale Organizing for America Community Team (www.gofact.blogspot.com).
