Deficit Commission Idiocy
Jonathan Chait is exactly right. This proposal guarantees that nothing meaningful will be achieved.
Here's a fact sheet on the proposed commission.
The biggest problem is that there is nothing in the legislation forcing the commission to agree to anything. No target for deficit reduction is specified or required, while at the same time super majority requirements for commission recommendations and congressional action virtually quarantee that it will be impossible to enact anything more substantial than a promise to reduce future pork barrel spending.
I am disappointed that so many organizations devoted to fiscal responsibility have endorsed this waste of time. In my opinion, they are simply engaging in wishful thinking.