The leaders of a special panel of deficit reduction will leave on Sunday to reach an agreement to reduce the deficit before the end of Wednesday.
The Republican opposition to the taxation of the rich is the main obstacle, Senator Patty Murray (D-Wash.), said on CNN's "State of the Union".
PBS leads to a story the other day says it all: "Super Committee deficits stuck in a dead end with the approaching deadline." This report is an alarming public very nervous, that the real deficit reduction is not going to happen. Tortured political leaders (especially Republicans) are pushing the committee members for their solution. Wall Street seems to anxiety, and is concerned that the market will tank once the deadline passes. And there's a lot of extra wring their hands over the imminent bankruptcy.
So, this contrarian point of view. I hope that the committee is broken ... America and the better.
A bad deal can be worse than no agreement at all. And in recent weeks, the services offered by these two operations bad. They cut too deeply into certain areas of government - such as education, transportation and competitiveness in "non-defense discretionary spending" category - and that too few taxes, fees and defense.
Perhaps worse, a bad deal now would make it harder to reach a good deal later. Most economists think we need about $4 trillion of deficit reduction over the next decade or so. There’s a good chance, if the economy doesn’t begin to improve more rapidly, that we need a lot more. There’s little chance that we need a lot less. By the end, the supercommittee was discussing a $1.2 trillion deal. If you add in the spending cuts already agreed to in the debt-ceiling deal, that’s a $2.1 trillion deal. That would have left trillions in deficit reduction undone.And the trillions it would have left would be in the hardest categories to reach agreement on. Taxes. Entitlements. Defense. Reaching a deal on those items is going to be difficult under the best of circumstances.
Rep. Jeb Hensarling (R-Texas), Murray's Republican counterpart, was also a downer on Sunday morning.
"Nobody wants to give up hope. Reality is to some extent starting to overtake hope," Hensarling said on "Fox News Sunday." "Talks have taken place over the weekend and they will continue to take place. But the reality is we need to come to an agreement, we have to get it drafted, and we have to get an estimate from the Congressional Budget Office by the end of Monday. It is a daunting challenge."
Asked whether Democrats had budged on reforming entitlement programs or whether Republicans had budged on tax cuts, Hensarling said, "We'll not give up hope."
Of course, the failure would have the right to cut programs. Progressives have long been opposed to it, but there are some small changes to these programs are probably inevitable, and no time for the new Congress to return to this possibility. Which brings us to the last point the benefits of bankruptcy. a new Congress.
With approval ratings of Congress and as low as 9%, the failure of Super Committee could be a catalyst for meaningful change in 2012. It would be the best example of the lack of government. It is clear that this Congress is dysfunctional. It is locked in ideological positions that are not good to govern our country. It operates under the undue influence of right-wing extremists in the House and the Senate filibuster. The result is chaos, confusion and inaction. And he referred to the Committee on Super, failure can bring the needed change, and it would be good for America. Let it happen.
0 comments:
Post a Comment