By Kevin Bogardus - 12/09/12 06:13 PM EST
“I’m a little more encouraged than if you would have asked me about it a week ago,” said Bowles, a co-chairman of the Simpson-Bowles deficit commission, on CBS’s “Face the Nation.” “They have started to tango now and any time you got two guys in there tangoing, you got a chance to get it done.”
“Even if you raise the top rates back to the Clinton rates, that only creates $400 billion over 10 years. That’s $40 billion a year. We got a trillion-dollar-a-year deficit. That alone won’t solve the problem,” Bowles said.
“We have to slow the rate of growth of healthcare to the rate of growth of the economy,” he added.