Super-committee predictably fails to reach deal on cuts

Color me shocked! The congressional “super-committee” given the task of reaching a bipartisan agreement on $1.2 trillion in cuts failed to reach a deal.

In other news, water is wet.

So Congress yet again failed to reach a bipartisan deal on an important issue of the day further solidifying the idea in everyone’s minds a little less than a year from an election that we need a new Congress! Seriously, we really need new folks in there who will behave like adults and vote on legislation that can be passed and signed into law. That is their job and they haven’t been doing it for so long now it can be easy to forget. Very little relief can come for those struggling in this (still) down economy when nothing can get passed.

President Obama spoke today about the Super-committee  and he basically said, I put Republicans in a proverbial budget box make a deal or kiss the Bush tax cuts goodbye!

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Essentially, Republicans are beholden to the Grover Norquist “no tax” pledge they signed and there was never ever a chance for a deal anyway. Everyone involved knew this going in. The automatic cuts that are triggered are not good but don’t go into effect until 2013. So either Congress comes up with the cuts they were assigned to do or the automatic sequester kicks in and triggers additional cuts. President Obama even pulled the “veto” card and said “No” he will not sign anything that doesn’t include the automatic spending cuts which include cuts to some domestic programs and defense spending.

So, vote next Fall. I can’t take much more of this nonsense.

Transcript

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2 Comments

  1. Posted November 22, 2011 at 9:28 am | Permalink

    Renault: I’m shocked, shocked to find that gambling is going on in here.
    Employee of Rick’s: [hands Renault money] Your winnings, sir.
    Renault: Oh, thank you, very much. Everybody out at once!

  2. Posted November 22, 2011 at 10:19 am | Permalink

    This is actually pretty good news. As I understand it, now there’s a better possibility that the Bush tax cuts will definitely expire, which will return something like $11.6 million every hour of every day. The Bush tax cuts for that top 5% costs the US Treasury $2 Trillion dollars, far in excess of the $1.2 trillion the supercommittee was charged with cutting.

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