The Obama administration has pledged to create a bipartisan commission charged with balancing the budget, except for interest payments, by 2015. The damage deficits can do to America's world standing is a good reason to hope the commission works.
"Bipartisan commission" is a euphemism for the un-Constitutional fascist austerity-board which the Change-agent-in-Chief has been ordered to impose on the U.S. by his British masters.
A big part of the reason we're in an economic crisis is that too many people have let the Wall Street Journal sell them British economic plans. Their latest advice is just the next phase in the destruction of the U.S.