The New Media Journal | White House Weighs Bipartisan Commission to Tackle Deficit

The New Media Journal | White House Weighs Bipartisan Commission to Tackle Deficit: "The White House is considering a bipartisan commission to tackle the nation's swelling deficit, as it seeks to show resolve on a problem that threatens its broader agenda.

Top White House officials, including budget director Peter Orszag, met Tuesday with Senate Budget Committee Chairman Sen. Kent Conrad (D-ND), to discuss establishing such a commission, which has been pushed by Mr. Conrad and his Republican counterpart on the committee, Sen. Judd Gregg (R-NH).

Senior congressional officials said the idea was gaining traction. Two officials said the White House was likely to make its own proposal for a panel, which could have less power than the proposed Conrad-Gregg commission. White House aides said no final decision had been made.

The idea is to bring Republicans and Democrats together to make tough decisions about how to cut costs or raise revenue in areas including Social Security, Medicare and taxes. For the White House, establishing a commission would show that the Obama administration is serious about tackling the deficit while postponing any real moves until after the 2010 elections.

The federal budget deficit swelled to a post-World War II record of $1.4 trillion in fiscal 2009 and isn't expected to shrink much this year. The White House budget office has already asked each cabinet department, except for defense and veterans affairs, to submit two budgets for fiscal 2011 -- one freezing spending at current levels, the other cutting spending by 5%.

The magnitude of the deficit is starting to constrain Democrats' room for maneuver. Top House Democrats are pressing for a new tax to pay for any troop increases in Afghanistan. Meanwhile, an effort by congressional Democrats to pass job-creation measures, such as a tax credit for hiring new workers, faces skepticism from a White House unsure that such ideas are worth the cost.

In addition, the administration is being pressed by Messrs. Conrad, Gregg and 12 other senators -- Democratic, Republican and independent -- who demand action on a federal debt commission before they will approve any increase in the national debt ceiling."