Bipartisan Task Force for Responsible Fiscal Action Is the federal fiscal responsibility glass half-full or half-empty? Let's look first today at the part of the glass that is half full -- something fresh and new. After all, when was the last time the administration has done anything, the Treasury Secretary has said anything, or Congress has considered anything comprehensively addressing the nation's long-term fiscal imbalances? From out of nowhere today comes a proposal by Senate Budget Committee Chair and Ranking Member Kent Conrad (N-ND) and Judd Gregg (R-NH) to create a task force to do something about it, dang it. Well, not do something, just, well, here are the operative verbs: The task force will review all aspects of the current and long-term financial condition of the federal government. It will identify factors that jeopardize the government's long-term fiscal balance, or that create a gap between expected federal revenues and spending. It will analyze all potential solutions, and make legislative recommendations to Congress and the President on how to substantially improve the long-term fiscal balance in a report due December 9, 2008. To recommend something, this is. Since this sounds easy enough, "at least three-quarters of the task force... must agree to the [recommendations] before the report can be submitted." And since Congress will no doubt find the recomenndations a no-brainer, "Final passage of the bill requires a supermajority in each chamber — three-fifths of the Senate and three-fifths of the House." Then it goes to the President about a month before he leaves office, when he will truly be in a position to cast partisanship aside, consider his legacy, and do the right think for the national and its fiscal future. At last. Why didn't anyone think of this before? Info and resources regarding the proposal below.

• Conrad/Gregg Press Release
• Bipartisan Task Force Fact Sheet

Rave reviews:

• Comments By David M. Walker, Comptroller General Of The United States
• Committee For A Responsible Federal Budget
• The Concord Coalition