Trillions & counting: Cooper calls for fiscal task force

Tennessean

The U.S. government was already headed for fiscal disaster and then the problem got $3 trillion worse over the past year, Nashville Congressman Jim Cooper and others said Monday. They were responding to the release of the annual financial report of the United States, which said the government faces $56 trillion of unfunded long-term promises. The annual deficit hit $1 trillion for the first time for the fiscal year that ended Sept. 30, the report said. And these figures don’t even include the various bailouts that have followed the collapse of the economy over the past two months. A loosely knit group of Washington budget reformers, which includes Cooper, wants President-elect Barack Obama to appoint a commission upon taking office next month to address these long-term problems...

//tennessean.com/article/20081215/NEWS01/81215075


Informant: Thomas L. Knapp



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