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Supercommittee Expected To Admit Failure

From a feigning surprise reporter at The Hill:

Deficit supercommittee members expected to announce failure

By Bernie Becker – 11/20/11

The supercommittee is expected to make plain on Monday that it will fall short of its deficit-reducing mandate, an outcome many in Washington have expected for days.

Actually, it is exactly how everyone knew this would turn out. It was always intended as a way to escape taking responsibility and making any real decisions.

The panel technically has a Wednesday deadline for their deficit-reduction package, which must be at least $1.2 trillion over a decade to avoid across-the-board cuts.

In other words, we are talking about $1.2 trillion dollars in cuts over ten years. These ‘savings’ would be less than one tenth of our yearly deficit. Given that our annual deficit is now over $1.3 trillion.

The ‘supercommittee’ is just a side show of a side show.

But any deal the supercommittee comes up with must also be vetted by the Congressional Budget Office – and be available to the 12 lawmakers on the committee for 48 hours prior to any vote, giving the panel an effective Monday deadline.

No, the fact that for all intents and purposes Congress has already begun its Thanksgiving vacation was the real deadline.

And after a weekend in which supercommittee negotiations appeared to grind to a halt, and panel members publicly suggested the other side would be to blame for failure, there was little optimism around Washington that the committee would be able to pluck a rabbit out of its hat.

Late Sunday, Reuters reported that Sen. Patty Murray (D-Wash.) and Rep. Jeb Hensarling, the supercommittee’s co-chairs, would issue a statement acknowledging they had not reached a deal, unless something radically changes in the coming hours

If a committee with the brain power of Patty Murray and John Kerry and James Clyburn can’t solve this problem, than who can?

Democrats, as they have for days, said Republicans were unable to embrace what they called a “balanced” package, in which corporations and wealthy taxpayers would contribute more revenues to eat into deficits

This is a lie, of course. The Republicans have repeatedly tried to compromise. (Unfortunately.)

Murray and Sen. John Kerry (D-Mass.) also again accused Republicans of being under the thumb of anti-tax activist Grover Norquist, a charge that Senate Majority Leader Harry Reid (D-Nev.), among others, has lobbed over and over again in recent weeks

Apparently, it is time for Mr. Norquist’s ‘two news cycles of hate.’

But Republicans asserted that they had thrown out a proposal, pushed by Sen. Pat Toomey (R-Pa.), that included hundreds of billions of dollars of upfront revenues, something they called a major concession on their end

Something the Democrat rejected out of hand. (Fortunately.)

This article was posted by Steve on Monday, November 21st, 2011. Comments are currently closed.

2 Responses to “Supercommittee Expected To Admit Failure”

  1. Papa Louie says:

    They can’t come up with $1.2 trillion in spending cuts over a decade. How pathetic! Why don’t Republicans demand that the stimulus money be removed from the baseline budget? That $800 billion was intended as a one-time expenditure to stimulate the economy. It was a total failure. Removing that spending from the baseline going forward would save $8 trillion over ten years. It’s a no-brainer!

  2. tranquil.night says:

    Everybody on Middle Earth saw through this one from the beginning.

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