ABC Urges President Obama to Break Debt Commission Deadlock

Dec 08, 2010, 10:38 ET from American Business Conference, Inc.

WASHINGTON, Dec. 8, 2010 /PRNewswire-USNewswire/ -- Earlier today, the chairman of the American Business Conference (ABC), Alfred P. West, Jr., the CEO of SEI Investments, Oaks, Pennsylvania, and John Endean, the president of ABC, sent a letter to President Obama urging the President to break the deadlocked Bowles-Simpson commission.  Last week the commission came within three votes of the supermajority needed to endorse a constructive package of debt reduction measures for Congressional consideration.  The text of the letter follows.

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Dear Mr. President:

We are writing on behalf of the members of the American Business Conference (ABC), leaders of fast-growing midsize American companies.

ABC members were dismayed that the Bowles-Simpson commission failed, by a narrow margin, to achieve the fourteen-vote supermajority necessary to endorse a package of debt-reduction proposals for delivery to you and to Congress.  

We do not think this should be the end of it.  The leaders of the commission, in our view, made considerable progress in focusing the nation's attention on our perilous fiscal situation.  Now, however, only you can produce a successful outcome of the commission's work, thereby moving the debate forward.

We respectfully recommend that you convene a special meeting of the Bowles-Simpson commission at the White House to resolve the deadlock and reach a consensus on debt reduction.  We must not lose this opportunity to correct the nation's fiscal course.

Sincerely,

Alfred P. West, Jr.

John Endean

SOURCE American Business Conference, Inc.



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