Simpson and Bowles Appear on Face the Nation
Simpson and Bowles Media Appearances on Budget Negotiations
Fiscal Commission co-chairs Senator Al Simpson and Erskine Bowles continue to push for a bipartisan plan that would avert the fiscal cliff appearing on Bob Schieffer's Face the Nation on Sunday. Bowles also appeared on the Daily Rundown and "Squawk Box" on Monday.
Face the Nation host Bob Schieffer talked with Simpson and Bowles about the fiscal cliff, their own bipartisan debt reduction proposal, and even Simpson's internet sensation "Gangnam Style" performance. Simpson warned of punting on the chance to do something about our debt, saying "I think they'll do something, but if they do small ball, that won't work. The markets aren't going to listen to that."
Bowles said Congress and the President could "absolutely" find common ground for a deal but it might take some tough choices. He also stated that the proposal put forward by Speaker Boehner last week, which put $800 billion of revenues on the table and dropped some of the more controversial policies Republicans had advocated, "advances the ball." Bowles noted that the President has indicated flexibility on entitlements and willingness to work on tax reform which potentially could reduce rates next year. Their interview starts at 1:45.
Monday morning, Bowles was interviewed on both "Squawk Box" and the Daily Rundown with Chuck Todd, commenting on the state of the current negotiations. On the Daily Rundown, Bowles explained why going off the fiscal cliff was not a good policy even though it would reduce the debt. Bowles commented that while he is more confident about a deal than he was last week, "there's no sense betting the country when we can reach such a reasonable compromise before the end of the year." Both parties can position themselves for a productive compromise.
On "Squawk Box," Bowles said he was glad to see the end of "Kabuki Theater" in Washington and a turn to serious negotiations to avoid the fiscal cliff. Although he has been encouraged by recent events, Bowles said he thought there was a 40 percent change of Republicans and Democrats agreeing to a deal before the fiscal cliff. "I think if [both sides] agree on higher rates in some form, you'll see some of these other dominos fall into place really quickly" Bowles said.
There's no sense betting the country when we can reach a reasonable compromise