President missed opportunity to set stage for debt deal, deficit hawks say
The Hill
Jan. 31, 2011
"Bipartisan Policy Center Senior Director Steve Bell, a former chief of staff for former Senate Budget Committee Chairman Pete Domenici (R-N.M.), said he is feeling gloomy after the State of the Union and GOP reaction.
He said that it is now clear nothing significant will happen on the debt for at least the next two years, since Obama and the GOP used the moment to play to their political bases.
The way to get a budget compromise, such as the one between President Clinton and Congress in 1997, is for the president to say to his political opponents that they are 'willing to jump off the political cliff together,' he said."
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Based on the housing industry’s average share of Gross Domestic Product (GDP) from 1980 to 2007, the infographic illustrates that 2.3 percent or $350 billion is “missing” in potential growth.
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