Washington (CNN) - The co-chairs of the Congressional debt-crisis "super committee" announced their long-awaited first meeting and hearing dates in a statement released Friday.
The Joint Select Committee on Deficit Reduction is holding their first full committee meeting Thursday morning, September 8th, where members will make opening statements and consider committee rules, according to a statement released by co-chairs Rep. Jeb Hensarling, R-Texas, and Sen. Patty Murray, D-Washington.
The committee will then meet again the following Tuesday, September 13th, for their first hearing on, "The History and Drivers of Our Nation's Debt and Its Threats." Joining the hearing as a witness will be Dr. Douglas Elmendorf, director of the Congressional Budget Office.
Democratic and Republican committee members met separately earlier this week to discuss their respective strategies before the full committee meetings got started.
Leaders from the House and Senate formed the committee earlier this month after raising the nation's debt ceiling and tasked them with finding an additional $1.5 trillion in savings over the next decade. The 12-member bipartisan panel must propose cuts by November 23rd and hold votes on the cuts one month later.
If Congress can't agree to those reductions, automatic cuts will take effect in programs like defense and entitlement; something neither party desires.
–CNN's Kate Bolduan contributed to this report
I bet we see the first Republican walk-out before the first week is over.
Okay. So they meet once a week (and they have how long? 3 months including vacations?) to come up with a 13 digit plan to reduce the deficit. I don't think so.
2000-2004: The seeds of economic ruin are planted
2004-2006: The economic weeds begin sprouting and are nurtured.
2006-2008: Some identify the weeds, but are not heard.
2008: The weeds bloom and spread poisonous spores everywhere.
2008-2010: Damage was severe. GDP rises from -3.5% to over 2%. Stock market rises from 7000 to over 12,000. Monthly jobs show a turn around of -700,000 to +200,000. In fact, the economy showed 18 months of improvement in month to month jobs reports.
2011: Enter the Tea Party. GDP falls to zero. Jobs growth falls to zero. Stock market nearly collapses. US loses credit rating. And the Tea Party blames everyone else, even members of their own Republican party who do not share Tea Party views.
Americans will have to eat Spam this Thanksgiving. The turkey is being cooked in Washington, DC.
The KEY here is:
[If Congress can't agree to those reductions, automatic cuts will take effect in programs like defense and entitlement; something neither party desires.]
I beg the difference – BOTH sides will be affected if NOTHING gets done and BOTH SIDES probably want it to happen this way. BOTH sides will ONLY be blamed for the fact that NOTHING was accomplished before the TRIGGER. In the end, the TRIGGER will be blamed and the CUTS will happen by DEFAULT!!!!! This is how the story goes and it will occur over and over again!!
I don't know why they're going to have meetings. The retards, oops, repubs have already had their meeting to decide what they're not going to do.