Chambliss and Warner: The New Debt Reduction Dream Team
This morning, Senators Saxby Chambliss (R-GA) and Mark Warner (D-VA) announced that they will introduce as legislation the Fiscal Commission’s recommendations in early January.
Taking up where the Fiscal Commission left off, the two Senators—along in all likelihood with a number of their colleagues—will continue the national discussion about how to get the national deficit and debt under control before the unappealing scenario where credit markets force us to.
The Commission recommendations received 11 votes of support out of the 18 Commission members--a majority but not the supermajority of 14 votes needed to send the plan directly to Congress for an up or down vote. Senators Warner and Chambliss have praised the Commission's members, including their Senate colleagues Senators Coburn, Durbin, Crapo, Conrad, and Gregg for their courage and hard work in forging a consensus among 11 of the members. In following their lead, Senator Chambliss even noted the other day on the Senate floor that:
"While these recommendations may not reflect the beliefs of all the members of this body, I commend the commission’s members for having the courage and the open minds to tackle the problem. At very least, their recommendations can serve as a starting point for a serious debate on how we can ensure a better life for our children and our grandchildren."
Already, the two Senate leaders have organized a Senate floor anti-debt-fest. Now, they are really moving the ball forward with this announcement. With so little to cheer about in past years on the fiscal front, we are thrilled the Senators Chambliss, Warner, and many of their colleagues will be demonstrating the kind of leadership necessary to change course. Our list of fiscal heroes seems to be growing.