FILE - In this Jan. 16, 1984, file photo, President Ronald Reagan displays reports gives to him by J. Peter Grace, right, of the Private Sector Survey on Waste and Cost Control in Government, in Washington at the White House. The Grace Commission was created in 1982 by Reagan to root out waste and inefficiency in the federal government. Headed by Grace, the commission produced hefty recommendations it claimed would save the government $424 billion over three years. Reagan and Congress largely ignored its report. Since the end of World War II, more than a dozen high-profile bipartisan panels have been convened to tackle the nation’s thorniest fiscal problems. But seldom have their recommendations spurred congressional action. (AP Photo/Ira Schwarz, File)