Bowles, Bishop say Shared Sacrifice Needed to Reduce Deficit
Press release from the issuing company
Wednesday, April 6th, 2011
With Democrats and Republicans haggling over proposed fiscal 2012 budget cuts and facing a looming government shutdown, the National Commission of Fiscal Responsibility's Erskine Bowles says now is the time to act in order for the nation to avoid financial calamity.
"Our national debt is unsustainable," Bowles, former President Bill Clinton's Chief of Staff, said. "It's like a cancer destroying our country from within. If we do nothing we'll be paying a trillion dollars a year in interest alone by the end of the decade."
