Home > Congress > The Congressional Super Committee Has Little Chance Of Reaching Budget Deficit Agreement

The Congressional Super Committee Has Little Chance Of Reaching Budget Deficit Agreement

November 18, 2011 Leave a comment Go to comments

We’re just mere days away now from the November 23rd deadline that was set for the much hyped Congressional Super Committee to reach a deal to help find over $1 trillion in savings over the next decade (whether it’s from raising taxes, cutting spending or some combination of both).

And I, for one, have almost no confidence that these Congressional leaders are going to come to any kind of meaningful agreement.

I mean let’s just look at the facts first.  Republican committee members Jeb Hensarling and Patrick Toomey did the TV circuit this past week expressing their own serious doubts that a deal was going to get done.  Republicans want to achieve the $1.2 trillion goal number almost exclusively by cutting spending.  They also want to cut the highest tax rate down to 28% along with trimming corporate tax rates.  Democrats are in favor of higher taxes on the wealthy in order to bring more revenue to the government.  Which side is ultimately going to win?

How about nobody?  Haven’t we heard this whole song and dance before?  One side wants to cut spending while the other wants to raise taxes.  Neither knows the meaning of compromise so we have an unbreakable stalemate that ends up resulting in some watered-down compromise that doesn’t satisfy anybody.

We did this same thing not too long ago when the government was ready to hit the debt ceiling.  Republicans wanted deep spending cuts while Democrats wanted a more balanced approach to cutting spending and increasing revenue.  Neither side ended up getting what they wanted and the result saw the debt ceiling being bumped up again like it had been a hundred times before.  Why will this be any different?

The American public seems equally disillusioned.  A CNN poll indicated that 78% of Americans think a meaningful solution will not be achieved by the 23rd.  You can put me solidly in the majority.  Until either side shows a willingness to meet in the middle this just becomes the latest government project that fails to successfully achieve its resolution.

What say you?  Will the Congressional Super Committee be able to agree to $1.2 trillion in savings by the November 23rd deadline?  Feel free to comment below.

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  1. November 18, 2011 at 12:26 pm

    This is so depressing. The solutions seem so simple, yet equally impossible.

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