Economic Meltdown While Congress Vacations
SPRINGFIELD, Ill, (IRN) – Republican U.S. Sen. Mark Kirk of Illinois says a special Joint Commission that is supposed to pinpoint cuts the national budget must convene now, not later.
The Joint Commission was part of the deal that resolved the debt ceiling crisis. The commission’s task is to cut the nations spending by $1.5 trillion by Thanksgiving. That’s in addition to cutting $2.4 trillion in spending over the next 10 years. Given that daunting task, Kirk says they should begin work as early as next week.
“I think the Joint Commission should start meeting next Monday,” Kirk said.
Kirk is calling on Congress to reconvene as well. He says given the economy and the roller coaster of a stock market in recent days, Congress should come back to Washington to restore the public’s confidence and to reassure the public that the U.S. will not go into another recession.