Event: Potential Implications of a Fiscal Commission

As the national debt continues to climb from where it currently sits at 98 percent of gross domestic product, the United States faces a growing fiscal challenge. The longer Congress waits to take action, the more serious the problem may become. Legislation to establish a new debt commission recently passed out of the House Budget Committee. This isn’t the first time a fiscal commission has been attempted; the Simpson-Bowles Commission was established in 2010 but ultimately did not produce lasting results.