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Bill George

Harvard Business School Professor, former Medtronic CEO

Leadership Kudos and Gaffes: Erskine Bowles and Alan Simpson faced a crisis head on

Leadership Kudos this week go to Erskine Bowles and Alan Simpson, co-chairs of President Obama’s Deficit Reduction Commission. Last December they proposed a $4 trillion reduction in U.S. deficits over ten years with a balanced plan of spending and entitlement cuts, and revenue increases. Although the commission passed the plan with an 11-7 vote, it was not enough for a mandatory Congressional vote.  The thoughtful plan was ignored by President Obama and Congressional leaders in both parties. A great tragedy that led to the historic downgrading of U.S. sovereign credit ratings this past summer.

Leadership Gaffes go to Congressional Super-Committee for failing to come to a compromise agreement to reduce U.S. deficit by $1.2 trillion, setting the stage for automatic across-the-board cuts to go into effect. Confidence in Congress has dropped to 9%, and deservedly so. Congressional leaders continue to put party politics ahead of the needs of the country, as our financial state erodes and we lose competitiveness to many other countries. When will our politicians wake up and put their country first?