again, the work that was done by carmen reinhart of the university of maryland and dr. rogoff of harvard concluded that when you're gross debt reaches 90%, future economic growth is impaired, impaired in such a way that translates into a million fewer jobs. that at the end of the day is what we must keep in mind. i believe that the deficit and debt reduction plan as assembled by the president's fiscal commission, on which i serve, got it about right. the plan would stabilize the debt by 2014, lower it to 60% of gdp -- let me emphasize that as on a publicly held debt measure -- by 2033, and roughly 30% by 2040. publicly held debt would first be stabilized, then be brought back from the brink, and overtime worked down to what most economists say is a far more sustainable level. there were 18 members on the commission, 11 supported the report. five democrats, five republicans, one independent. that is 60% of the commissioners supported the conclusions of the report that would reduce the debt by $4 trillion over the next 10 years. i believed that proves that democrats and r

again, the work that was done by carmen reinhart of the university of maryland, dr. rogoff at harvard concluded that when your gross debt reaches 90% you see future economist growth impaired. and impaired in such a way that translates into a million fewer jobs. that, at the end of day is what we must keep in mind. i believe that the deficit and debt reduction plan assembled by the president's fiscal commission on which i served got it about right. the plan was stabilize the debt by 2014 lower it to 60% of gdp let me emphasis that is on a publicly-held debt measure by 2023 and roughly 40% by 2040. publicly-held debt would be stabilized and brought back from the brink and over time worked down to what most economist say is a far more sustainable level. there were 18 members on the commission. 11 supported the report fives five republicans, one independent. that's 60% of the commissioners supported the conclusions of the report that would reduce the debt by $4 trillion over the next ten years. i believe that proved that democrats and republicans can join forces when we