The Commission to Study Deficits is Broke
As reported by The Fiscal Times, President Obama's commission to study the problem of what to do about the government running short of money is running short of money.
"President Obama's bipartisan fiscal commission is operating on a shoestring budget and some panel members and lawmakers worry that it may run short of money.
"The 18-member commission faces the daunting challenge of coming up with proposals by Dec. 1 to tame the federal government's trillion-dollar budget deficit. But the panel's own budget is only $500,000, barely enough to cover office rent and the salaries of four staff members."...Despite the seeming enormity of the commission's task, budget analysts say the panel doesn't need a huge staff because both the basic problems and the mix of possible solutions has been known for years...the Simpson-Bowles commission will eventually need to assess the impact of any potential proposals by running them through the complex budget modeling systems used in Congress and the executive branch."