1 The commission trying to find a way to eliminate the huge federal budget deficit has the go-ahead from President-elect Bush to start putting its proposals in writing.
2 Bush sent word to the National Economic Commission that he would like to have the group's recommendations in hand by March 1.
3 Bush's decision was being hailed by commission members as a sign that the president-elect planned to use the 14-member panel's work in his own budget negotiations with Congress.
4 The commission, which includes such leaders as Chrysler Chairman Lee Iacocca and AFL-CIO Chairman Lane Kirkland, was created by Congress with the hope that it could come up with a deficit-reduction package acceptable to the new administration and Congress.
5 Commission co-chairman Drew Lewis said the panel would be able to meet the deadline, and many panelists expressed pleasure that Bush had decided not to postpone the commission's report until Sept. 1, which he had the option of doing.
6 Some had feared that Bush, who was critical of the panel during the presidential election, might decide to delay the report in an effort to play down any recommendations from the panel.
7 Lewis said he was told of the reporting decision on Tuesday by Treasury Secretary Nicholas Brady, who will retain that position in the Bush administration.
8 Lewis said Brady told him to prepare recommendations over the next seven weeks unless he hears otherwise from Bush once he takes office on Jan. 20.
9 The commission met Tuesday to review the outlook for the economy.
10 The assumptions the panel decides to use for such things as economic growth, inflation, unemployment and interest rates will have a big effect on how much in deficit reductions it will need to recommend to eliminate the budget deficit in coming years.
11 Bush said during the presidential campaign that the commission was little more than a stalking horse for tax increases, which Bush has vowed to oppose.
12 Since winning election, however, Bush has insisted he is serious about reducing the federal deficit, partly to calm fears of foreign investors and prevent a run on the value of the dollar in foreign currency markets.
13 The advisory panel, which is headed by Lewis, a Republican, and by Democrat Robert Strauss, has scheduled a string of hearings this month and next to craft a plan.
14 Originally, those hearings were to be held in secret, but a group of news organizations won a court battle last week that forced the sessions to be opened to the public.
15 Lewis, former transportation secretary in the Reagan administration and now chairman of Union Pacific, said Tuesday it was possible that the commission might be forced to issue a majority and a minority report because differences among panel members could prove too wide to bridge.
16 He said there was also a possibility that even after the commission issues its report, it may be called back into session by the administration if a deadlock develops with Congress over the budget.
17 'If the president-elect and Congress can't solve this problem, then we probably would be brought back into action,' Lewis said.
18 The meeting Tuesday was the first one attended by Bush's two appointees to the panel, former Sen. Paul Laxalt, R-Nev., and former Rep. Thomas Ashley, D-Ohio.

Bush ' s decision was being hailed by commission members as a sign that the president - elect planned to use the 14 - member panel ' s work in his own budget negotiations with Congress .
budget negotiations
What are Bush's proposed negotiations?