{"id":2653754,"date":"2026-09-02T17:54:01","date_gmt":"2026-09-02T21:54:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/budget-committee-to-weigh-fiscal-commission-to-wrangle-40-trillion-debt\/"},"modified":"2026-09-02T17:58:25","modified_gmt":"2026-09-02T21:58:25","slug":"budget-committee-to-weigh-fiscal-commission-to-wrangle-40-trillion-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/budget-committee-to-weigh-fiscal-commission-to-wrangle-40-trillion-debt\/","title":{"rendered":"Budget Committee to weigh fiscal commission to wrangle $40 trillion debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbudget-committee-to-weigh-fiscal-commission-to-wrangle-40-trillion-debt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2653754&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>House Budget Committee Chairman Jodey Arrington announced plans for a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rep-jordan-calls-out-big-tech-cancel-culture-in-antitrust-hearing\/\" title=\"Rep. Jordan calls out Big Tech cancel culture in antitrust ...\">full committee hearing<\/a> in Dallas on September 21 to discuss establishing a bipartisan fiscal commission aimed at addressing the growing U.S. national debt,which has surpassed $40 trillion. The hearing seeks to explore mechanisms for creating a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inside-the-gop-plan-to-oppose-bidens-iran-deal\/\" title=\"Inside the GOP Plan to Oppose Biden...s Iran Deal\">long-term plan<\/a> to tackle structural budget deficits, drawing on successful past examples like the Base Realignment and Closure commission, the 1983 Social Security reform commission, and the 2010 Simpson-Bowles commission.Arrington emphasized that demographic changes, notably aging baby boomers, are driving the debt, and political gridlock has prevented overdue reforms to entitlement programs like social Security and Medicare. Experts believe a bipartisan commission could help lawmakers make necessary but politically sensitive fiscal adjustments, such as spending cuts or tax increases. Historically, bipartisan commissions have seen mixed results, with some like the BRAC and greenspan commissions achieving critically important reforms, while others like Simpson-Bowles fell short of legislative approval. The upcoming hearing marks an important step toward establishing such a mechanism to address long-term fiscal challenges.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p class=\"wp-block-paragraph\"><strong>EXCLUSIVE \u2014<\/strong> <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/house-budget-committee\/\" data-type=\"post_tag\" data-id=\"3209\">House Budget Committee<\/a> Chairman Jodey Arrington (R-TX) said a full committee hearing will be held this month in <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/texas\/\" data-type=\"post_tag\" data-id=\"253\">Texas<\/a> to discuss a <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/bipartisanship\/\" data-type=\"post_tag\" data-id=\"1709\">bipartisan<\/a> fiscal commission, as legislators reckon with the national debt <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4704848\/40-trillion-debt-milestone-raises-questions-fiscal-commission-financial-crisis\/\" data-type=\"post\" data-id=\"4704848\">eclipsing $40 trillion<\/a>.<\/p>\n<p class=\"wp-block-paragraph\">Arrington told the <em>Washington Examiner<\/em> Tuesday that the hearing, which has not yet been announced, will be held in <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/dallas\/\" data-type=\"post_tag\" data-id=\"1504\">Dallas<\/a> on Sept. 21.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/4710772\/budget-committee-weigh-fiscal-commission-wrangle-40-trillion-debt\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Budget Committee to weigh fiscal commission to wrangle $40 trillion debt<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/4709521\/us-mint-commemorative-trump-1-coin\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>US Mint releases commemorative Trump $1 coin for purchase<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/4693193\/october-social-security-direct-payment-worth-994-goes-out-29-days\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>October Social Security direct payment worth $994 goes out in 29 days<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p class=\"wp-block-paragraph\">Some budgeteers see a fiscal commission as a path to fiscal adjustments, such as spending cuts or tax increases, that would otherwise be too politically polarizing for members of Congress to vote for.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-1\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-1\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-15\" data-wex-ad=\"art-dsk-inart-1\"><\/div>\n<\/div>\n<\/div>\n<div class=\"article-paywall\">\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4704848\/40-trillion-debt-milestone-raises-questions-fiscal-commission-financial-crisis\/\"><strong>GRIM $40 TRILLION DEBT MILESTONE RAISES QUESTIONS ABOUT FISCAL COMMISSION<\/strong><\/a><\/p>\n<p class=\"wp-block-paragraph\">\u201cWe\u2019re getting out of Washington, where people can\u2019t think out of the bubble,\u201d said Arrington, who is retiring next year.<\/p>\n<p class=\"wp-block-paragraph\">Arrington said the hearing will be on \u201chow we create this mechanism\u201d to address the fiscal situation, noting that Congress has experience creating bipartisan commissions. He specifically mentioned the Base Realignment and Closure, or BRAC, commission, the 1983 National Commission on Social Security Reform, and the 2010 National Commission on Fiscal Responsibility and Reform, known as the Simpson-Bowles Commission.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-2\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-2\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-16\" data-wex-ad=\"art-dsk-inart-2\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">\u201cBasically, a way to get thoughtful people, thoughtful policymakers, on both sides and outside experts and leaders in the business community, economics, so that we can all work on a long-term plan to deal with the structural deficits, the structural imbalances, in our budgets,\u201d the chairman said.<\/p>\n<p class=\"wp-block-paragraph\">For years, most members of Congress have shied away from suggesting reforms to the old-age entitlement programs that account for much of federal spending. Arrington made a point of highlighting the demographic drivers of the rising debt.<\/p>\n<p class=\"wp-block-paragraph\">\u201cIt\u2019s 10,000 baby boomers getting on Social Security and Medicare, and until we, as lawmakers and leaders, work on addressing that and bending the curve on the expenses in these big entitlements \u2014 we could cut all of discretionary spending, and we\u2019ll still bankrupt the country,\u201d he said.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-3\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-3\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-17\" data-wex-ad=\"art-dsk-inart-3\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">\u201cSo we know what we need to do, but those are political, as you know, third-rail issues \u2014 both sides have avoided them when they had total control,\u201d Arrington added. <\/p>\n<p class=\"wp-block-paragraph\">Yields on long-term Treasurys recently hit multiyear highs, in part, because of underlying fiscal concerns.<\/p>\n<p class=\"wp-block-paragraph\">Some experts think the best way to address these <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-touts-biden-spending-plan-then-promises-inflation-wont-reach-1970s-levels\/\" title=\"Yellen Touts Biden Spending Plan, Then Promises Inflation Won...t Reach 1970s Levels\">long-standing problems<\/a> would be through some form of bipartisan fiscal commission, which would give lawmakers some political cover while showing markets and investors that Congress is serious about righting its fiscal ship.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-4\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-4\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-25\" data-wex-ad=\"art-dsk-inart-4\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Arrington\u2019s planned hearing appears to be a key step in that process.<\/p>\n<p class=\"wp-block-paragraph\">Bipartisan commissions have had mixed results, including the three that Arrington mentioned to the <em>Washington Examiner<\/em>.<\/p>\n<p class=\"wp-block-paragraph\">The BRAC commission is an example of Congress using a commission successfully.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-5\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-5\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-26\" data-wex-ad=\"art-dsk-inart-5\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">In that case, the United States needed to close dozens of military installations across the country in the wake of the Cold War. But individual lawmakers had incentives to keep bases in their districts, so the decision on which bases would be closed or consolidated was left to a commission. Ultimately, more than 350 military installations were closed or consolidated.<\/p>\n<p class=\"wp-block-paragraph\">The National Commission on Social Security Reform, dubbed the Greenspan Commission after its chairman, Alan Greenspan, was a bipartisan commission formed in the early 1980s to make tough choices as Social Security was facing an imminent financing crisis.<\/p>\n<p class=\"wp-block-paragraph\">Congress ultimately accepted and enacted the commission\u2019s recommendations, which kept Social Security afloat.<\/p>\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4708557\/congress-cut-taxes-capital-gains-houses-midterm-elections\/\"><strong>COULD CONGRESS CUT TAXES ON CAPITAL GAINS ON HOUSES BEFORE THE MIDTERM ELECTIONS?<\/strong><\/a><\/p>\n<p class=\"wp-block-paragraph\">Meanwhile, the National Commission on Fiscal Responsibility and Reform, known as the Simpson-Bowles Commission, which was formed in 2010 and designed to reduce the deficit, was seen largely as a failure.<\/p>\n<p class=\"wp-block-paragraph\">The bipartisan commission came up with $4 trillion in deficit reduction through spending cuts and through increasing revenues. But Congress never enacted the legislation.<\/p>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arrington: House to hold Texas hearing on bipartisan debt plan<\/p>\n","protected":false},"author":3360,"featured_media":2653755,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/Budget-Committee.webp?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[4463,33898,40978,38510,32412],"class_list":["post-2653754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-budget","tag-debt-management","tag-financial-oversight","tag-fiscal-policy","tag-government-spending"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/Budget-Committee.webp?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2653754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3360"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2653754"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2653754\/revisions"}],"predecessor-version":[{"id":2653759,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2653754\/revisions\/2653759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2653755"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2653754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2653754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2653754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}