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Obama’s Debt Commission: VAT On The Table

Via Fox News:
One of the co-chairmen of the president’s newly created debt commission called the job a “suicide mission” on Sunday, saying the task of correcting the country’s “unsustainable” fiscal path is one of the toughest he’s tackled. Former Sen. Alan Simpson told “Fox News Sunday” that he and fellow co-chairman Erskine Bowles are “jumping without a parachute” in trying to forge agreement on ways to reduce the soaring national debt and unshakably high deficits. Illustrating his point, Bowles said a controversial value-added tax — a form of a national sales tax — should be under consideration as the panel pushes for a set of congressional recommendations by December. “I think it’s something that ought to be on the table,” said Bowles, former President Clinton’s one-time chief of staff. “I’m not taking anything off the table.”

Of course it is. - Greg Pollowitz

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