Gregg Accepts White House Invitation
Gregg, a fiscal conservative, is one of 90 people invited to the event, according to the New York Times. The invites are divided evenly between members of the House, senators and scholars.
In a statement, Gregg said his "goal for the summit will be to address the long-term fiscal tsunami that is headed our way as a result of the cost of making payments to the Baby Boom Generation through health and retirement entitlement programs."
"Reform is urgently needed, especially as long-term entitlement spending threatens to strangle our economy, and action must be taken sooner rather than later," he added. "I will certainly do everything I can to work with the President and others in Congress to set a course for the long-run that addresses the issue of how we pass on to our children a government they can afford."
According to the Times, President Obama will open the summit. Participants will then divide into groups to discuss topics like the cost of health care, tax reform and the budget process. The goal, a source told the paper, is to "underscore how big the problems are."
Gregg, the ranking Republican on the Senate Budget Committee, voted against the White House-backed economic stimulus package.