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Monday, November 14, 2011

"The Latest from the Not-So-Super-Committee"

Stan Collender:

Not-So-Super Committee Seriously Considers Becoming A Circular Firing Squad, by Stan Collender: A quick note... This story by Robert Pear in today's New York Times about the latest from the not-so-super committee tells you everything you need to know about the status of the negotiations. According to Pear, one of the main plans for reducing the deficit the committee apparently is considering is to set up a process by which tax increases would be considered by the House Ways and Means and Senate Finance Committees at some point next year.
Does anyone else see how ridiculous this is? 
The anything-but-super committee was set up because the regular committees and legislative process could not agree on what to do about the deficit. But rather than make those decisions, the super committee may decide that the best way to deal with this situation is to throw it back to the two tax-writing committees that, because they were unable to come up with a plan in the first place, gave the job to the super committee.
And the most inane, stupid, absurd, remarkable thing about this is that the definitely-not-super committee will claim that this make-someone-else-do-the-hard-work-later process complies with the legal requirement to reduce the deficit by $1.2 trillion.

The fact that they are willing to make cuts in social insurance and other programs but cannot agree on revenue increases says a lot about the relative power and influence of various groups in Washington.

    Posted by on Monday, November 14, 2011 at 09:45 AM in Budget Deficit, Economics, Politics, Social Insurance, Taxes | Permalink  Comments (19)


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