Obama Endorses Congressional Deficit Reduction Commission

01.25.10 | FL News Team

President Obama has switched course and has endorsed a federal deficit reduction commission proposed by Congress. Obama called for bipartisan support for the idea, saying, quote, "The only way to solve our long-term fiscal challenge is to solve it together -- Democrats and Republicans." However, the top Republicans in Congress claim creation of the commission will lead to tax increases, so they oppose the effort.

 Although the measure is expected to pass in the House, its fate is uncertain in the Senate where it needs 60 votes. If the legislation doesn't win the necessary votes, the White House says the President may create a deficit reduction commission by executive order. Under current plans, neither commission would tackle the deficit problem until after the November elections.