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Right Turn
Posted at 08:30 AM ET, 11/21/2011

Friday question answered: Supercommittee failure

Like the media and public at large, Right Turn readers are glum about the potential for a supercommittee deal. Pilsener writes: “There was never any hope for the Super Committee. It was merely a ploy to get Republicans to allow the debt-ceiling increase. It worked. Debt-ceiling increased, no budget, no deficit reduction, no spending reductions, taxpayers on the hook — all is well inside-the-beltway.”

Eddiehaskell puts it this way:

The mainstream media controls who gets the blame, so the Republicans will. Just as in the last debt debate, the downgrade was blamed on the people that wanted to reduce the debt the most, the Tea Party freshman. That is like blaming Paul Revere for the British invading. The 1.2 trillion over ten years is a joke anyway. The path we are on the debt will be at least 20 trillion by then, with or without the stupid cut. Remember no amount of taxes can cover the unfunded spending liabilities and the current spending level, so the blame goes with the spenders.

I tend to agree that the chances of a deal are slim. As a senior Senate aide e-mailed me on Sunday: “Every proposal the Democrats had included a trillion-plus in job-killing tax hikes and a massive stimulus spending bill.” Republicans proved they were willing to consider revenue raisers, but the Democrats want one of two outcomes: A raise in tax rates on the “rich” and corporations or failure. There is no debt ceiling deadline or other real urgency forcing Congress to make a deal. And we know the cuts won’t go into effect until January 2013. The supercommittee was a “success” in only one sense: It showed convincingly that voters will have to choose one of two competing visions if they really want debt reduction.

By  |  08:30 AM ET, 11/21/2011

Categories:  Friday question, Budget

 
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