By Walter Alarkon - 03/22/10 05:43 PM EDT
Reed would join on the panel two other former Clinton aides who helped craft balanced budgets in the 1990s: former White House Budget Director Alice Rivlin and former White House Chief of Staff Erskine Bowles, whom Obama has named a co-chairman of his deficit commission.
The 18-member bipartisan commission will try to produce a fiscal reform plan to rein in the $12.5 trillion debt. Congressional leaders have pledged to allow the panel's proposal to come up for floor votes.
As the group's executive director, Reed won't be a voting member but will likely have a hand in crafting the reform plan, which needs the support of 14 of the committee's members before it moves to Congress.