The White House

Office of the Press Secretary

For Immediate Release

February 26, 2010

President Obama Names Members of Bipartisan National Commission on Fiscal Responsibility and Reform

WASHINGTON – Today, President Barack Obama named the following individuals to serve on the bipartisan National Commission on Fiscal Responsibility and Reform being co-chaired by former White House Chief of Staff Erskine Bowles and former Republican Senate Whip Alan Simpson:

• David Cote, Member, National Commission on Fiscal Responsibility and Reform
• Ann Fudge, Member, National Commission on Fiscal Responsibility and Reform
• Alice Rivlin, Member, National Commission on Fiscal Responsibility and Reform
• Andy Stern, Member, National Commission on Fiscal Responsibility and Reform

President Obama said, “For far too long, Washington has avoided the tough choices necessary to solve our fiscal problems.  I am proud that these distinguished individuals have agreed to work to build a bipartisan consensus to put America on the path toward fiscal reform and responsibility.  I know they’ll take up their work with the sense of integrity and strength of commitment that the American people deserve and America’s future demands.”
The bipartisan National Commission on Fiscal Responsibility and Reform will make recommendations to Congress by December 1, 2010 to put the budget in primary balance so that all operations and programs for the federal government are paid for (achieving deficits of about 3 percent of GDP) by 2015 and to meaningfully improve the long-term fiscal outlook.  With today’s appointments the President has named 6 bipartisan appointees to the commission.  The remaining 12 members of the commission will be appointed by Senate and House leaders (3 each by the Republican and Democratic leaders of both chambers).
President Obama named the following individuals as members of the National Commission on Fiscal Responsibility and Reform:
Dave Cote has served since 2002 as chairman, chief executive officer, and president of Honeywell, a diversified technology and manufacturing leader. Under Cote’s leadership, Honeywell has delivered strong performance in sales, earnings per share, segment profit, and cash flow.  He has served on the U.S.-India CEO Forum since 2005 and was named co-chair by President Obama in 2009.  Previously, he was chairman, chief executive officer, and president of TRW.  He joined TRW from General Electric, where he served 25 years in various manufacturing, finance, and management positions.  He received the Corporate Social Responsibility Award from the Foreign Policy Association in 2007.  He is a graduate of the University of New Hampshire.
Ann Fudge served as chairman and chief executive officer of Young & Rubicam Brands from 2003 to 2006.  Prior to joining Young & Rubicam Brands, she worked at General Mills and Kraft, where she served in a number of senior executive positions.  Fudge is not only a proven business leader, but also an engaged civic voice having served on the boards of the Gates Foundation, the Rockefeller Foundation, and the Boys and Girls Clubs of America.  She is a graduate of Simmons College and Harvard Business School.
Alice Rivlin is a senior fellow in the Economic Studies Program at the Brookings Institution and visiting professor at Georgetown University.  Before returning to Brookings, she served in a variety of senior public policy roles including vice chair of the Federal Reserve Board, director of the White House Office of Management and Budget, chair of the District of Columbia Financial Management Assistance Authority, and founding director of the Congressional Budget Office.  She is a graduate of Bryn Mawr College and received her Ph.D. in economics from Harvard University.
Andy Stern, president of the Service Employees International Union, represents 2.2 million healthcare workers, janitors, security officers, public employees, and other hardworking women and men in the United States, Canada, and Puerto Rico.  As both a labor leader and an activist, he is a leading voice and aggressive advocate for practical solutions to achieve economic opportunity and justice for workers.  Stern began working as a social service worker and member of SEIU Local 668 in 1973 and rose through the ranks before his election as SEIU president in 1996.  He is a graduate of the University of Pennsylvania.