Bowles, Simpson to the Rescue! Deficit Hawks Take on the Fiscal Cliff (again)

Erskine Bowles and Alan Simpson threw a new sequestration alternative into the mix today. The leaders of Obama’s 2010 fiscal commission released a framework outlining $2.4 trillion in deficit reduction; greater than the White House goal of $1.5 trillion, but not enough to satisfy the GOP’s lust for getting a balanced budget in 10 years (necessitating more than $4 trillion/10 years).