Senator Joe Manchin will host a "fiscal summit" in Charleston on Monday, September 10, to discuss publicly a plan to deal with the national debt.
Joined by Senator Alan Simpson and former Chief of Staff Erskine Bowles, Manchin will discuss a four tiered plan being proposed.
"This is a totally predictable mess," said Bowles in a phone conversation with reporters.
Four areas being proposed for severe cuts are health care, national defense, amendments to the tax code and tackling the debt interest.
Currently, the US spends $250 billion annually on interest payments. By the end of the decade, without intervention, the interest alone will cost $1 trillion, according to Bowles.
The presentation is titled, "Our Finances & Our Future: A Bipartisan Conversation about the Facts." Manchin said the presentation would be both educational and entertaining.
A time has not been finalized, but Manchin said it would be held in the morning.
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