Alternate Title: EO 13531: National Commission on Fiscal Responsibility and Reform
This order announces the establishment of the National Commission on Fiscal Responsibility and Reform. "The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run. Specifically, the Commission shall propose recommendations designed to balance the budget, excluding interest payments on the debt, by 2015. This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy. In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government."
Executive Order 13531; E.O. 13531
Government Printing Office: http://www.gpoaccess.gov/
Federal Register (February 23, 2010), v.75 no.35, p.7927-7928