Inaugural Meeting of the National Commission on Fiscal Responsibility and Reform
April 27, 2010
White House Conference Center, Truman Room
10:00 am - 1 pm

Meeting Minutes:

Opening Remarks:

Alan Simpson and Erskine Bowles bring the meeting to order and introduce guest speakers.

Federal Reserve Chairman, Ben Bernanke

Testimony:

Long-term Fiscal Challenges

Path to Fiscal Sustainability

Office of Management and Budget Director, Peter Orszag

Testimony:

Short-term Deficits

Medium- and Long-term Deficits

Role of the Fiscal Commission

Former Congressional Budget Office Director, Rudolph Penner

Testimony:

Outline of the findings of the National Academies of Science and Public Administration

Former Congressional Budget Office Director, Robert Reischauer

Testimony

Outline of the steps toward the Commission's goal, beginning with step 1: Make a clear and convincing case that significant changes to our current spending and tax policies are unavoidable, and that those changes must be made soon

Commissioner Remarks

Commissioners now called on for brief remarks on the scope of the challenge, the goals of the commission, reactions to testimonies, and thoughts going forward.

Order:

Chairman Alan Simpson

Sen. Max Baucus

Rep. Xavier Becerra

Rep. Dave Camp

Sen. Kent Conrad

Dave Cote

Sen. Mike Crapo

Sen. Richard Durbin

Ann Fudge

Sen. Judd Gregg

Rep. Jeb Hensarling

Alice Rivlin

Rep. Paul Ryan

Rep. Jan Schakowsky

Rep. John Spratt

Andy Stern

Erskine Bowles

Adjournment:

Chairmen Bowles and Simpson close meeting.