Feb. 19 (Bloomberg) -- The leaders of President Barack Obama’s 2010 deficit commission offered a $2.4 trillion plan to reduce the debt as Congress approaches a March 1 deadline for averting across-the-board federal spending cuts.
The proposal by Democrat Erskine Bowles, President Bill Clinton’s former chief of staff, and Republican Alan Simpson, a former senator from Wyoming, would accomplish debt savings over 10 years in steps, rather than through one major piece of legislation.
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