Wednesday, December 09, 2009

Bond, McCaskill Join Debt Buster Alliance

Both of Missouri's U.S. Senators joined a bipartisan group designed to address the country's mounting debt.
The coalition has 10 Democrats and 15 Republicans, including Sen. Kit Bond and Sen. Claire McCaskill. And the broad coalition could block any effort to raise the federal debt limit. The commission would weigh tax increases, spending cuts and other approaches to preventing the ballooning national debt -- currently at $12 trillion dollars -- from compromising the country's long-term strength, according to Reuters.
"People around here tend to worry about the next election more than the next generation," said McCaskill.
"In recent months, the message from the American people couldn’t be clearer—the taxpayer’s credit card is maxed out. This bipartisan legislation is about listening to the American people and protecting the financial future," Bond said.
The bipartisan task force would establish a board of Senators, the Secretary of the Treasury and another administration official selected by the president to review the current and long-term financial condition of the federal government, make reviews and submit them to Congress. Final passage of the recommendations by Congress will require supermajorities in both the Senate and House.

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