During his first presidential term, President Obama created the bipartisan National Commission on Tax Responsibility and Reform to address the nations fiscal challenges. The commission's task is to identify policies that will improve the fiscal situation in the short term and support it in the long term. The commission is designed to balance the budget issue, including changes to entitlement spending growth and the gap between projected revenues and U.S. government expenditures. The commission meets once a month and will vote on a final report containing a series of recommendations on December 1, 2010. The commission's work has never been fully embraced by the president or Congress. The commission gave us some insight into the tax issues facing the United States, but the recommendations it gave us are still being studied today. The Commission on Tax Responsibility and Reform is run by two co-chairs, Alan Simpson and Erskine Bowles, along with eighteen members. Alan Simpson, was a Republican Senator from Wyoming. He is a conservative and an opponent of government regulations, he is also an outspoken supporter of abortion, gay and lesbian rights, and equality for all people regardless of race, color, gender, and sexual orientation. Senator Simpson dissolved the Republican Party from 1985 to 1995, chaired the Veterans Affairs Committee from 1981 to 1987 and from 1995 to 1997, after retiring from politics he taught at Harvard University and resigned as director of politics institute, later moved back to Wyoming, was named co-president of Americans for Campaign Reform, which is the political effort to change the money involved in politics (biography.com). On the other hand Co-...... middle of paper .... .. draw on this budget. If that were the case, the whole purpose would be defeated. Establishing a cut-and-invest committee can cut low-priority spending, increase high-priority investments, and consolidate duplicative federal programs. The Cut-and-Invest Committee plans to cut $200 billion in discretionary cuts, freezing up to $100 billion in high-priority investments. The downside of this could be the loss of many blue collar jobs in the current economy. I think it's a good idea, it might lose jobs, but by then it's going to increase federal work a lot and handle what's needed and what's not. This component is a good way to reduce discretionary spending and save the country billions. of dollars, but it would greatly harm the economy in many ways. We need to deepen reform and not completely ignore it as Obama has done for the past three years.