Deficit panel looks like it will fail

myp · Nov 21, 2011

The bipartisan "super-committee" that was supposed to cut at least $1.2 trillion over 10 years is set to admit failure after the two sides could not find enough common ground. Particularly, Republicans wanted to keep taxes low and Democrats did not want to cut retirement and healthcare benefits, the other side not willing to compromise on those points respectably.

source: http://www.reuters.com/article/2011/11/21/us-usa-debt-idUSTRE7AJ0KE20111121

DodgeFB · Nov 21, 2011

myp said:
The bipartisan "super-committee" that was supposed to cut at least $1.2 trillion over 10 years is set to admit failure after the two sides could not find enough common ground. Particularly, Republicans wanted to keep taxes low and Democrats did not want to cut retirement and healthcare benefits, the other side not willing to compromise on those points respectably.

source: http://www.reuters.com/article/2011/11/21/us-usa-debt-idUSTRE7AJ0KE20111121

I thought that is the way it would go. All they did months ago was kick the can down the road. And they will try to do it again. Neither side has the courage needed to fix anything.

myp · Nov 21, 2011

DodgeFB said:
I thought that is the way it would go. All they did months ago was kick the can down the road. And they will try to do it again. Neither side has the courage needed to fix anything.

It is a result of the incentives the current system has created for them.

DodgeFB · Nov 21, 2011

myp said:
It is a result of the incentives the current system has created for them.

Maybe they need to be put on some sort of "Austerity" program.:unsure:

David · Nov 21, 2011

This is only going to drive more people into the arms of the TP/Occupy (depending on their politics). At some point the protesters are going to give up on working inside the system and civil disobedience and will start taking up arms. The situation has already degraded to the point that the US and Egypt look like clones. How much longer before we start looking like Syria?

dabdab · Nov 21, 2011

the failure or success of this "super-committee" seems to me are the same . it was supposed to reduce the budget deficit starting at 2013 or something were a new president and a new congress are in place and they may change it . it is not much more than a political posture by both parties . and will boil down to what the voters value more reduction of services and keeping the tax cut for the rich and no new taxses or keeping the services and repealing the tax cut to the rich and /or new tax .
Now every body is posturing .

Patrick · Nov 22, 2011

This was doomed to fail from the beginning. How is it supposed to solve a problem if you take a subset of two groups which fundamentally disagree with each other on the role of government, and put them in a different room? The democrats (and RINOs) believe in big government: big taxes, big spending, big regulation. The republicans (REAL republicans) believe the opposite. With the ascendancy to power of the american leftwing for the first time in over 70 years, this fundamental disagreement is presented in stark relief.

dabdab · Nov 22, 2011

Have there motive to form this sub set is to find an agreement it would . now it worked as expected by the designer . the question is there going to be a fallout later on when the blame game for the failure start to heat up .

David · Nov 22, 2011

Patrick said:
This was doomed to fail from the beginning. How is it supposed to solve a problem if you take a subset of two groups which fundamentally disagree with each other on the role of government, and put them in a different room?

I have to agree with this.

Deficit panel looks like it will fail

Similar threads