The President is creating an independent commission that might help force the government to take important and necessary deficit reduction measures. That is the good news; assuming, of course, that one is not tired of deficit reduction commissions, and other types of commissions that are designed more to bury problems than solve them.
The bad news, however, is that this commission is set to start its work after the November elections.
Why we have to wait so long is a mystery, but given the lack of support for this idea amongst Democrats and Republicans, I am not sure that the deficit reduction commission will even get off the ground. The White House’s decision to delay implementation of the deficit reduction commission certainly won’t help matters. Meanwhile, the deficit–which will be propelled by further spending demands from the White House–will continue to get worse.