Are You Really Surprised Super Committee Is Having Lots Of Trouble?
This story from one of the best budget reporters around -- Andrew Taylor from the Associated Press -- says that the Joint Select Committee on Deficit Reduction (aka the "Super Committee") is having serious problems coming to any agreement about anything.
According to the story, those "...closely tracking the committee are increasingly skeptical, even pessimistic, that the panel will be able to meet its assigned goal of at least $1.2 trillion in deficit savings during the next 10 years." The reason is what I and many others have been saying since the super committee was created: There's never been a reason to think that the years'-long political stalemate over taxes and cuts to Medicare, Medicaid, and Social Security will magically disappear and be any less contentious just because these 12 people are charged with coming up with a plan.
Here's what I said about the prospects for the super committee right after it was created in early August.
Pentagon Spending
at least $400B a year too much why cut anything that takes away from the lower 3 quintiles and leave war profiteers and tax evaders nearly whole.
30% cut to war and increase revenues to the historical levels, then ask grandma to eat cat food.