Posts tagged: supercommittee
Thirteen months after a wave of voter discontent propelled Raul Labrador to Congress, the first-term lawmaker is suffering from, well, discontent. “I knew it was hard for politicians to make tough decisions,” the Republican Labrador said in a profile in Sunday’s Statesman. “I didn’t realize how hard.” The past 13 months has been an education for us all — for Labrador, for his 1st Congressional District constituents, and for anyone worried about the direction the country is going. But will Labrador be part of the solution, or part of the problem? When it comes to the toughest decisions facing Congress — how to attack the nation’s spiraling deficit — Labrador hasn’t been a problem-solver/Idaho Statesman. More here.
Question: Is Labrador part of the solution to the deficit mess or part of the problem?
Since the “supercommittee” superfailed to live up to its name, what should we call them now? How about the Do-Nothing Dozen? The sum of their work certainly adds up to zero. Twelve members of Congress — six House members and six senators, six Republicans and six Democrats — were appointed in August to try to find at least $1.2 trillion in deficit reductions. The group gave up Monday, agreeing only to do, well, nothing. Technically, the group’s three-month assignment ends today, the day before Turkey Day. Never let it be said that Congress lacks for a wicked sense of humor. But since it actually does take a couple days to write legislation, Monday was effectively the group’s deadline. To call the effort pitiful and disappointing borders on understatement. By playing to their bases, committee members reinforced the same partisan divide that they needed to transcend/Kevin Richert, Statesman. More here.
Question: Are hopes of a solution to our debt crisis gone now that the supercommittee has superfailed?
The 12-person Congressional “super committee” tasked with reducing our national debt has thrown in the towel. Out of the six Republicans and six Democrats, not one would break party lines to agree on a plan. Are we surprised? Not a bit. Disgusted? Absolutely. Predictably, our bull-headed representatives are already angrily pointing fingers across the aisle. Republicans call out Democrats who refuse to chop any entitlement programs; the Democrats say that Republicans refuse to quash any of the tax breaks benefiting the nation’s rich. We deserve better/Twin Falls Times-News. More here. (AP file photo of part of supercommittee)
Question: Does the failure to reach agreement by the supercommittee underscore the possibility that the U.S. Congress/American political system is broken?
Go big. That's the message from a bipartisan group of 34 senators, including Idaho Republican Mike Crapo. The senators are urging a House-Senate “supercommittee” to go beyond its assignment to find $1.5 trillion in deficit reductions. Instead, say the senators, the supercommittee should seek a bipartisan agreement to cut at least $4 trillion over a decade. It's no surprise to see Crapo on the list (although his colleague, Idaho Republican Jim Risch was not a co-signer). Crapo was a member of President Barack Obama's deficit task force, which last year identified a $4 trillion plan. Crapo also was a member of the Gang of Six, a bipartisan group of senators that proposed $3.7 trillion to $4.7 trillion in cuts/Kevin Richert, Idaho Statesman. More here.
Question: Do you agree with U.S. Sen. Mike Crapo that Congress needs to “go big” with deficit reduction of at least $4 trillion over the next decade?
The decision by Standard & Poor's to downgrade U.S. debt underscores the need for a major agreement on deficit reduction, President Obama said Monday. The president said U.S. debt remains world-class in the eyes of the markets despite S&P's downward revision — from Aaa to Aa+ — on Friday, but said it was up to the so-called “supercommittee” established by the compromise debt-ceiling legislation to produce an agreement that can forestall a future slide in U.S. creditworthiness. “Markets will rise and fall, but this is the United States of America,” Obama said in the state dining room. “No matter what some agency might say, we've always been and always will be a AAA country”/Michael O'Brien, The Hill. More here. (AP photo)
Question: How low to you expect the market to go before it levels out this time?