FirmhandKY
Posts: 8948
Joined: 9/21/2004 Status: offline
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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
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Some people are just idiots.
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