Conrad Says U.S. Needs More Deficit Cutting Than Panel Proposed

Senate Budget Committee Chairman Kent Conrad said the U.S. needs to cut the deficit more than what was proposed by a bipartisan debt commission and reiterated his call for a summit on the issue with President Barack Obama.

“I would prefer to even go further in deficit reduction than this package,” Conrad, a North Dakota Democrat and member of the commission who backed the plan, said on “Fox News Sunday” today. He called the proposal, which was supported by 11 of the panel’s 18 members, “a strong beginning.”

Obama’s debt commission rejected a $3.8 trillion budget- cutting plan as members from both parties opposed its mix of tax increases and spending cuts in programs such as Social Security and Medicare. The debt commission’s plan received needed the votes of 14 of its 18 members to forward the proposal to Congress for consideration. The final vote was 11 to 7.

To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net;

To contact the editor responsible for this story: Mark Silva{ at msilva34@bloomberg.net

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