Congressional Black Caucus Creates Deficit Commission

Commission on the Budget Deficit, Economic Crisis, and Wealth Creation


Time Friday, January 28 · 1:30pm - 5:30pm

Location Canon House Office Building Caucus Room
Independence and New Jersey Avenues, Capitol Hill
Washington, DC

Created By Congressional Black Caucus

The CBC recently formed its own Commission where top African American economists from around the country will come together to focus on the recession – particularly on communities of color. The Commission will also examine deficit reduction and their implications for vulnerable populations and the nation at large. Chairman Emanuel Cleaver, Congresswoman Maxine Waters, and Congressman Bobby Scott will convene three panel discuss...ions covering numerous topics including but not limited to: utilizing the fiscal year 2012 Budget to understand the national debt and eliminating economic disparities as well as identifying mandatory federal programs that enhance the lives of people of color, and other underserved communities.

A glaring omission from various debt reports is a thoughtful analysis of how their recommendations will affect the nation’s most economically vulnerable populations. The Congressional Black Caucus will not allow that to happen again. Following the panel, the Congressional Black Caucus will create recommendations and a Commission Report and submit these recommendations to Congress and the Administration. More details are included below.

Chairman Emanuel Cleaver, Congressman Bobby Scott and Congresswoman Maxine Waters will chair the following three discussions:

1:30PM Panel 1: Balancing Demand for Resources and Fiscal Constraints – Chairman Emanuel Cleaver

· How does the increasing federal deficit affect our economy? What programs are most at risk to federal budget cuts? Which federal programs have the greatest impact on vulnerable communities? What value do these programs have for the nation at large, and what would be the consequences of drastic cuts to them? Specifically, how would proposed cuts to social security, Medicare and Medicaid affect our communities? Which programs should be protected from any budget cuts, and are there some that should be expanded, even in the current fiscal climate?
Panelists: Dr. Margaret Simms, Dr. Darrell Gaskin, Dr. William Spriggs

3:00PM Panel 2: Surviving the Recession and Accelerating the Recovery – Congresswoman Maxine Waters

· In light of lagging economic development, continued decline in the housing market and pervasive unemployment, how can the United States increase economic growth and competitiveness, and ultimately generate jobs and employment? What about any infrastructure investment (through the Highway Bill, Federal Aviation Authorization or the Water Resources Development Act)? Furthermore, in spite of fiscal restraint, what support can the government provide to enhance the Minority Business Development Agency's position as a driver of economic growth?
Panelists: Dr. Algernon Austin, Dr. William Darity, Mrs. Donna Sims Wilson,

4:00PM Panel 3: Using the 2012 Budget to Address Deficit Reduction- Congressman Bobby Scott

· What recommendations can be offered to help the FY 2012 budget address continued economic hardships and the growing deficit without causing significant harm to households across the nation, especially the most vulnerable communities?
Panelists: Mr. Jim Carr, Dr. Darrick Hamilton, Lisa Mensah

(CBC)