"It seems very unlikely that the group will agree on a package of recommendations. That said, they could be helpful in defining the magnitude of the problem and the realistic trade-offs that must be made in finding solutions," said Robert Bixby, executive director of The Concord Coalition, a grassroots deficit watchdog group.

And, Bixby added, the commission very well could influence what President Obama proposes in his 2012 budget. "For example, if the six presidential appointees all agree on a set of recommendations these ideas could -- should -- be incorporated into the president's budget next February."