In a speech in New York City Monday to a non-partisan, politically-attuned group called The Common Good, Simpson said the stalemate that appears to be playing out in the news may be what is really going on in Washington with Congress, even behind the scenes. “I don’t really feel they are playing games now. I think they are totally confused,” Simpson said. “But they know the President has one basic thing on his mind: raising taxes on the rich and let me tell you folks: That’s going to happen.” Both Simpson and Erskine Bowles, the Democrat from the Clinton administration who co-chaired the commission that put out a 64-page plan for reform entitled “The Moment of Truth,” have been under non-stop attack since their report was released two years ago. Simpson says Bowles “used to think we had a chance not to go off the cliff, but now he thinks it is a one-third chance. I think we will go off the cliff and the markets will call the shots and the chaos will be destructive.”
- Alan Dodds Frank [TCG Member] for Fortune, READ MORE
