In point of fact, 'Simpson-Bowles' has become a symbol, or SimBowl, rather than an actual plan, political shorthand for the process of long-term deficit reduction.

But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.

I think it's very important not to confuse the importance of dealing with Social Security in the long term with these short-term deficit reduction challenges. They're different issues.

Mr. Obama's choices show how fundamentally unserious he is about deficit reduction and spending restraint.

Honest talk about the deficit is risky. Voters are more enthusiastic about the abstract notion of deficit reduction than about the painful details of accomplishing it.

Deficit reduction is not an end in itself. It is the means to an end. Canadians must now decide what kind of country they want to build with the hard-won dividend.