Public Policy | U.S. Economy

The United States is standing at a crossroads on a host of monumental issues. But do we have the political will to make the difficult and perhaps unpopular decisions that will move us toward solutions?

The need for political courage was a recurrent theme as Sen. Orrin Hatch joined the Milken Institute Associates for a private breakfast briefing. Noting that Hatch has been willing to buck his own party lines on issues like stem cell research, Institute chairman Michael Milken engaged in a wide-ranging conversation with the senator, covering everything from mobilizing the nation's domestic energy resources to free trade agreements.

Sen. Orrin Hatch tells the Milken Institute Associates the growing federal deficit is one of his biggest concerns.

Both Milken and Hatch are passionate advocates for spurring innovation in medical research. While reiterating that he is no fan of the recently passed health-care reform, Hatch, who has worked to triple the NIH budget, insisted that we are on the cusp of profound breakthroughs in personalized medicine. He believes that investing in cures will be the most effective way to hold down medical costs.

The overriding concern for Hatch these days is the gaping federal deficit, which he views as unsustainable. Given the diminishing number of workers supporting entitlement programs, Washington is going to have to deal the unfunded liabilities in Social Security and Medicare. "Sustaining the current programs is putting us deeper and deeper into debt," he said. But it will take bold leadership to tackle the problem.

Hatch recalled his decades-long friendship with the late Sen. Ted Kennedy, a productive and genuinely collegial relationship that often resulted in legislative compromise. He bemoaned the lack of a true bipartisan spirit in Washington, calling it a "stultifying system," and warned that gridlock may get even worse if centrists are voted out in favor of candidates on the far left and the far right. It will take compromise and great ideas from both sides of the aisle, said Hatch, to move the nation forward.

This event was open only to Milken Institute Associates. To register, join the Associates or learn more about the program, please contact Mindy Silverstein, Director of the Associates, at (310) 570-4634 or msilverstein@milkeninstitute.org.

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