According to the Journal's Washington Wire: "After months of behind-the-scene discussions, Sens. Kent Conrad (D., S.D.) and Judd Gregg (R., N.H.), the Budget Committee's chairman and top Republican, have agreed in principle on a bill to establish a powerful commission to try to solve the government’s serious fiscal problems." The panel "would review major entitlement programs such as Social Security and Medicare, as well as the tax code, to find ways of cutting future spending growth and patching the leaky tax code." The recommendations would be fast-tracked and require an up or down vote, similar to the base closing commission.

Is this a good idea? Would it work?