Denver, CO - Michael Bennet, U.S. Senator for Colorado, released the following statement after reports from Administration officials that President Obama will sign an executive order establishing a bipartisan 18-member National Commission on Fiscal Responsibility and Reform. Administration officials also report President Obama will name Alan K. Simpson, a Republican, and Erskine Bowles, a Democrat, as co-chairmen of the Commission.

"The only thing more unfortunate than having to create this commission outside the Congress is the partisan gridlock in Washington that prevents anything from ever getting done," said Bennet. "This bipartisan fiscal commission will help take politics out of the equation and force Congress to get serious about reducing the debt. Our kids are depending on us to act responsibly -- to pay for our tax cuts and to restrain our spending impulses to only the most important priorities."

On the selection of Alan Simpson and Erskine Bowles, Bennet said, "Mr. Simpson and Mr. Bowles are tremendous public servants with a real commitment to fiscal responsibility. I look forward to their bipartisan leadership, and urge them to move quickly to fill the remaining positions on the Commission so we can finally begin the very important work of reducing the debt."

Earlier this year, Bennet supported legislation in the Senate that would have created a bipartisan debt commission to make recommendations on major spending cuts that would either be accepted or denied by Congress. That proposal failed to attract the votes necessary for passage.