Summary
WASHINGTON - President Obama on Saturday endorsed a bipartisan plan to name a special task force charged with coming up with a plan to curb the spiraling budget deficit, though the idea has lots of opposition from both his allies and rivals on Capitol Hill.
The bipartisan 18-member panel would study the issue for much of the year and - if at least half of the GOP panel members agree, a big obstacle - report a deficit reduction blueprint after the November elections that would be voted on before the new Congress convenes next year.See the full content of this document
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Obama Backs Commission to Study Deficit Reduction
"These deficits did not happen overnight, and they won't be solved overnight," Obama said in a statement. "The only way to solve our long-term fiscal challenge is to solve it together - ...
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