NYT: Obama to Create Deficit-Busting Panel

(CBS/iStockPhoto)
President Obama plans to order the creation of a panel to seek dramatic cuts in government spending to curb the federal deficit, according to a report in The New York Times.

The Senate rejected a plan on Tuesday backed by Mr. Obama to create a bipartisan task force to tackle the U.S. deficit.

According to the Times, President Obama will get around that denial with an Executive Order in his State of the Union speech Wednesday night, ordering the creation of a similar panel.

And in-story link: Special Report: Obama's 2010 State of the Union

The bipartisan Congressional deficit panel would have attempted to produce a plan combining tax cuts and spending curbs that would have been voted on after the November elections. But the plan garnered just 53 votes in the 100-member Senate, not enough because 60 votes were required. Anti-tax Republicans joined with Democrats wary of being railroaded into cutting government health and pension benefit programs to reject the idea.

Mr. Obama's panel would seek to garner the same cost-saving recommendations by December, but Congress would not be obliged to even consider the recommendations made by the group.
  • Tucker Reals

    Tucker Reals is the CBSNews.com foreign editor, based at the CBS News London bureau.

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