Federal Reserve Chairman Ben Bernanke said on Tuesday the country's budget deficit is on an unsustainable path and requires near-term action from policymakers to avoid dangerous outcomes.

Though he offered no concrete proposals for fiscal reform, Bernanke flagged the rising cost of healthcare and social security programs as key hurdles in refreshing his warnings on the United States' growing debt burden.

"In the absence of further policy actions, the federal budget appears set to remain on an unsustainable path," Bernanke told the 18-member National Commission on Fiscal Responsibility and Reform.

Bernanke said the nation's heavy debt load risked putting upward pressure on interest rates.

"Given the significant costs and risks associated with a rapidly rising federal debt, our nation should soon put in place a credible plan for reducing deficits to sustainable levels over time," Bernanke said.  More from Reuters here

More on the Deficit Commission's first meeting here:

Senate Budget Chairman Kent Conrad, D-N.D., Monday said he was looking forward to Tuesday's first meeting of the president's commission on reducing the deficit but added it will be difficult to get 14 of the 18 members to agree to a deficit reduction package to send to Congress.

"I am going to make every effort I can make to help produce agreement, but I also recognize reality," Conrad said.

The requirement that 14 of 18 members must agree to the package was included in the executive order issued by President Obama in February that created the panel.

At issue is whether Democrats will be able to win over Republicans, who are skeptical of the panel and see it as a way for Democrats to raise taxes.

"Americans are right to be concerned that this commission is merely a front to provide Democrats with the political cover they need to impose massive tax hikes," House Minority Leader Rep. John Boehner, R-Ohio, said Monday in a statement. "Americans are asking Washington to do its fair share and live within its means, not raise taxes and kick the can down the road."  More from the "Government Executive" website here.