January 02, 2012
For some reason many people in the policy community feel the need to assert that the deficit commission chaired by Morgan Stanley director Erskine Bowles and former Senator Alan Simpson produced a report. It did not. The two co-chairs produced a report, which was never submitted for a formal vote since it did not have the support of the necessary majority.
Therefore Christine Romer, the former head of President Obama’s Council of Economic Advisers (CEA), was mistaken when she referred to the report of the commission. This is simply the report of the co-chairs.
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