Super Committee Update

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FirmhandKY -> Super Committee Update (10/29/2011 7:04:35 PM)
Hoping that this will be a "continuing thread" about the process and results of the "Super Committee". This is the first article I've seen about how it's going. Not too good, apparently: The Incredible Shrinking Supercommittee By Megan McArdle Oct 28 2011, 2:54 PM ET A couple of weeks ago, I had a conversation with a prominent--and not normally excessively optimistic--budget expert. This person offered me two reasons to hope that the Supercommittee in charge of finding budget cuts would choose to go big rather than go home. 1. They would be extraordinarily foolish to pass up this opportunity; the Supercommittee has a great deal of power to do things that are normally very difficult to accomplish. 2. There had been no leaks; if the talks really weren't going anywhere, both sides would have been leaking like sieves. I wanted to believe this very much. Alas, they're now, well, leaking like sieves. And they're leaking dueling proposals that seem very, very far apart: ... We're still where we were six months ago: Democrats are determined to have substantial tax increases, and the GOP is determined not to. Her comments were based on this article: Boehner rejects Dem debt proposal By Russell Berman and Erik Wasson - 10/27/11 08:05 PM ET House Speaker John Boehner (R-Ohio) on Thursday rejected a proposal by the Democratic members of the congressional supercommittee on deficit reduction, declaring its $1.3 trillion in tax increases unacceptable. A majority of the six Democrats on the 12-member panel privately proposed a package that would cut the deficit by $3 trillion over 10 years, including more than $1 trillion in tax increases. Boehner said in a press conference that the amount of new revenue was too high. “This is the same number that was in the president’s budget, the same number that I don’t know if they found any Democrats in the House and Senate to vote for,” Boehner said. “And so, I don’t think it’s a reasonable number.” Firm

hlen5 -> RE: Super Committee Update (10/29/2011 7:07:57 PM)
I'm thinking cowboy movie"................Hmmm, It's too quiet". I'm wondering if the dithering isn't deliberate so everyone can take a 10% haircut. Maybe that's why Obama is so resolute in pulling out of Iraq by the end of the year.

DarkSteven -> RE: Super Committee Update (10/29/2011 7:50:32 PM)
Ridiculous. Boehner criticized the Dem's proposal while not mentioning the GOP's proposal. I expect the Dems to either do likewise, or else criticize Boehner for fiddling while Rome burns. Note that the GOP proposal "expected gains in tax revenue from an economy the GOP expects will improve from its reform of the tax code." In other words, they're still expecting tax cuts to stimulate the economy while there is no evidence it would.

Real0ne -> RE: Super Committee Update (10/29/2011 8:04:57 PM)
fr yeh well its a no win situation for the "people" unless you go back to specie based monetary system the banks will continue to have their 10 years screw everyone cycle. I know several people that retired with 6 digits and between taxation and inflation and market manipulation they died in debt. Yeh fix it.

FirstQuaker -> RE: Super Committee Update (10/29/2011 8:39:32 PM)
I was admiring the amount of time, effort and money the various lobbyists have put into "modifying their opinions" myself. Apparently the wonks studying such things think the amount has exceeded a billion dollars already, with some corporations taking out national advertisements on the hopes one of the supercommittee members would see them.

SternSkipper -> RE: Super Committee Update (10/30/2011 12:59:41 PM)
My prediction? They miss the deadline or come so close that we get another downgrade anyway. Credit card interest is the first to rise.

Hillwilliam -> RE: Super Committee Update (10/30/2011 1:04:50 PM)
This is proof that Bob Heinlein was right. "A committee is a life form with 6 or more legs and no brain."

SternSkipper -> RE: Super Committee Update (10/30/2011 1:38:23 PM)
quote: This is proof that Bob Heinlein was right. "A committee is a life form with 6 or more legs and no brain." quote: ORIGINAL: Hillwilliam This is proof that Bob Heinlein was right. "A committee is a life form with 6 or more legs and no brain." Is he the guy who wrote "Star Beast"? Read that when I was 12 and it had a big affect on what I liked to read after that... I think I read "Sirens of Titan" right after that.

Hillwilliam -> RE: Super Committee Update (10/30/2011 2:25:46 PM)
yes he is but he wrote some really good adult Sci Fi.

Owner59 -> RE: Super Committee Update (10/30/2011 4:14:47 PM)
This "super committee" has always struck me as a ploy by cons(who control the H-o-Rs) to shirk their leadership responsibilities. It isn`t working and hasn`t worked and is going down.My guess is that the "leadership" will use the stuper comm. for cover and will blame the dems even tho they control the H-o-Rs. Super committee = secret,backroom deals,"hidden from the people".

OrionTheWolf -> RE: Super Committee Update (10/30/2011 4:56:09 PM)
Did anyone really expect the politicians to do anything differently? Have the met with any consequences or incentives to make them change how they do business? Until that happens, whether it is a super committee or not, it will wash the same way.

hlen5 -> RE: Super Committee Update (10/30/2011 5:30:08 PM)
About the secrecy, I heard what seemed like a legitimate reason for that. The solution will have to be looked at en toto and not picked apart line by line before it's finished. I think if they let the clock run out there's no one person that people can point to and say, "It's your fault that blah, blah, blah".

FirmhandKY -> RE: Super Committee Update (10/30/2011 6:01:58 PM)
quote: ORIGINAL: Owner59 This "super committee" has always struck me as a ploy by cons(who control the H-o-Rs) to shirk their leadership responsibilities. It isn`t working and hasn`t worked and is going down.My guess is that the "leadership" will use the stuper comm. for cover and will blame the dems even tho they control the H-o-Rs. Super committee = secret,backroom deals,"hidden from the people". Damn, Owner ... the Republicans may control the House, but the Dems control the Senate, and the Presidency. Both of them signed off on this. So why the hell are you only pointing at Republicans? You really need to get out of the "Republicans baaad! Niner, niner, niner!" mode, my friend. [8D] Firm

erieangel -> RE: Super Committee Update (10/30/2011 8:47:46 PM)
quote: but the Dems control the Senate The way I see it, with filibuster power, the republicans control both houses. The Democrats can't get anything the republicans don't like to the floor of the senate for a vote because the republicans have used the filibuster every time.

Hippiekinkster -> RE: Super Committee Update (10/30/2011 10:02:16 PM)
quote: ORIGINAL: erieangel quote: but the Dems control the Senate The way I see it, with filibuster power, the republicans control both houses. The Democrats can't get anything the republicans don't like to the floor of the senate for a vote because the republicans have used the filibuster every time. Not quite. The Filibuster occurs on the floor of the Senate. There is no Filibuster in the House (that I know of, anyway...) Keep in mind what I say is from memory.

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