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Bowles: 'No easy way' to get books back in order


February 20. 2013 1:32AM
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(AP) The co-chairman of the U.S. deficit commission calls failure to agree on a plan to reduce the national debt the most disappointing thing in my life.


Erskine Bowles says what is going on in Washington is absolutely nothing.


Bowles, a former White House chief of staff for President Bill Clinton, tells MSNBC nobody gets a gold star for deficit reduction in connection with the recent deal to avoid the fiscal cliff.


Bowles, who co-chaired the deficit panel with former Sen. Alan Simpson, says there's no easy way out. The solutions are painful.


He also says Washington must come up with at least $4.7 trillion in deficit reduction. Failing that, he says, we're not going to have any money left over to spend on anything else but servicing the debt.


Associated Press


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