Robert Greenstein and Douglas Holtz-Eakin testified on the U.S. economic and budgetary outlook. Hr. Holtz-Eakin cited entitlement spending as an area needing reform. Mr. Greenstein recommended a more gradual approach to spending cuts than the automatic budget sequestration scheduled for March 1, 2013.
Congressional Budget Office Director Douglas Elmendorf was present as scheduled but provided only written testimony due to time constraints.