Clock ticks down on super committee
November 18th, 2011
12:15 PM ET
2 years ago

Clock ticks down on super committee

Washington (CNN) - Members of Congress's so-called super committee huddled in small groups behind closed doors on Capitol Hill Friday, battling growing pessimism and a now-imminent deadline to reach agreement on a seemingly elusive bipartisan deficit reduction deal.

At least seven of the panel's 12 members, evenly split between Democrats and Republicans in the House and Senate, need to agree on savings of at least $1.2 trillion over the next decade. In reality, however, the time line is even shorter. Under the law creating the committee, any proposal must be made public and evaluated for its fiscal impact by the non-partisan Congressional Budget Office no later than Monday.

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Filed under: Congress • Debt • Deficit • Deficit commission
soundoff (14 Responses)
  1. Four and The Door

    The Democrats are missing the boat on this whole exercise. They had an opportunity to get revenue increases of $400 billion but got greedy and wanted all of it to come from tax increases. They know this is not going to happen. A stalemate no-deal is much better from the Republican perspective than $400 billion of tax increases with no tax reform. The sequester fall back option is better for America than $400 billion in tax increases. A non-agreement looks like the best deal.

    November 18, 2011 09:22 am at 9:22 am |
  2. Keith in Austin

    Obama's Stimulous Plan has given $37 Billion in loan guarantees alone! Crony Socialism to Companies in return for political favors! (Solyndra et al) Wake up America!
    It's NOT the wealthy screwing the Middle Class. Our problems are the result of RECKLESS GOVERNMENT SPENDING and the Liberal ideology of BIG GOVT. This is what is leading to our financial demise. Nothing else!

    November 18, 2011 09:29 am at 9:29 am |
  3. BILL, WI

    It is a fallacy to believe that problems can be solved in short period of time. It does not matter if you pur some arbitrary deadline on it, if the problem took 20 years to grow it will be at least that much time to correct it. The national debt is now at about 105% of GDP that shows the Super Committee was formed a little too late to do any real good, Politicians will have to practice more statesmanship than their common knee-jerk political hack reaction to a growing problem.

    November 18, 2011 09:31 am at 9:31 am |
  4. marty

    All negotiations with Democrats and Republicans should begin with a question to each Republican, 'have you signed the Grover Norquist anti tax pledge'? If they say yes, they should be banned from an;y discussion regarding the government of the United States. They simply cannot function as a legislative body if they put another pledge ahead of their official oath of office. We have a democracy in this country, not a theocracy, dictatorship or any other form of a ruling government. Michele Bachmann may have been right when she said that the Congress should be investigated and Grover Norquist would be a good beginning.

    November 18, 2011 09:43 am at 9:43 am |
  5. Sad

    I can,t wait till 2012, "When these GOP clowns , "Get handed their pink slips" I think it,s so ""Ignorant for this Congress,and Bankers " To believe 99% Movement is over. "Its just Starting!!! The middle east is fighting to get rid of corruption, and Gop is fighting to Keep corruption in America???? Wow? Obama-Biden 2012

    November 18, 2011 09:45 am at 9:45 am |
  6. WireweirdinSF

    They can't do anything as long as the corrupt unions control the democrat liberal party and the presidency. SEIU/ACORN president is the most frequesnt overnite guest at the White House, that should tell you where the most corrupt, incompetent, inept president this country has ever had is coming from.

    November 18, 2011 09:45 am at 9:45 am |
  7. SuperD

    Here is the biggest problem with all of this.....Nancy Pelosi....she appointed all the big spending Liberals, who's duty is to protect the status quo of big instrusive government. The only way this is going to be done is to rid the Congress of Democrats. Democrats have no intention whatsoever of reducing the size of the Government. They created all this crap we have today and I'll be damned if they truly want to dismantle it.

    November 18, 2011 09:53 am at 9:53 am |
  8. Four and The Door

    marty
    All negotiations with Democrats and Republicans should begin with a question to each Republican, 'have you signed the Grover Norquist anti tax pledge'?
    ________________________________________________________________________________________________
    Sorry Marty. The Republicans made a huge offer of revenue increases already. The Democrats got greedy. The Democrats stopped working for America's best interest about 48 years ago. Now it's just politics and greed.
    The best deal in light of Democratic party greed is no deal.

    November 18, 2011 10:02 am at 10:02 am |
  9. Anthony

    Republicans control the House and they write the actual budget. Until Republicans lose something that they care about (like defense, which is the biggest part of the budget; or Bush tax cuts, which expire at the end of next year), they will never negotiate in good faith.

    November 18, 2011 10:03 am at 10:03 am |
  10. rs

    It is time for Republicans to give up trying to rig the system any further for the super rich. Go back (at least) to Clinton level tax rates. Remember- Grover Norquist has but one vote (although he BUYS all of yours), the rest of America holds many more. 75% of Americans favor higher taxes on the rich (and apparently the rich do too). Time to man-up and ditch the super radical, anti-tax man.

    November 18, 2011 10:05 am at 10:05 am |
  11. rs

    Remember Republicans- at this moment, the American Communist Party has a higher approval rating than Congressional Republicans (yikes!). You are contemplating doubling down to give more to the rich, and wipe out the middle class. Just sayin', you might just want to think this one over a little bit.

    Everybody knows Reagan, Bush I and Bush II built the first $10 trillion of our current debt. Cutting taxes further for the rich will only make that worse- and make it so much more obvious in regards to who you support.

    November 18, 2011 10:10 am at 10:10 am |
  12. Rudy NYC

    Four and The Door wrote:
    They had an opportunity to get revenue increases of $400 billion but got greedy and wanted all of it to come from tax increases.
    ----------
    Fact Check: The proposed revenue was for only $300 billion, which amounts to only $30 billion per year. That's not even enough to keep up with projected inflation. The offer was a complete joke.

    November 18, 2011 10:36 am at 10:36 am |
  13. Rudy NYC

    SuperD wrote:

    Here is the biggest problem with all of this.....Nancy Pelosi....she appointed all the big spending Liberals, who's duty is to protect the status quo of big instrusive government. The only way this is going to be done is to rid the Congress of Democrats
    ----------
    Here's the biggest problem with your accusations. Nancy Pelosi didn't appoint anyone. People are elected, not selected. At least that's how it works in the Democratic Party.

    As far as your charge of big spending liberals goes, the federal budget is on the path laid out for us by GWB. Don't forget that his final budget had a deficit of $1.5 trillion dollars, and that he had been paying for two wars in part out of the Social Security fund.

    The rest he put on the credit card, promising The People that his controversial tax cuts (two rounds of them, BTW) were only "temporary" so as to create more jobs. He was trying to "fix" an economy that wasn't broken, but wound up "fixing" it anyway.

    November 18, 2011 10:45 am at 10:45 am |
  14. SecedingfromTexas

    @Marty:
    *************
    You are absolutely right. If all of these "blame Obama/Democrats" people think they are going to get a free ride and
    "less government", they might need to think again. Republicans will turn all problems over to private companies
    and States. State taxes will go sky high, and cost of goods will too. No government can be run on no- funding.
    Not security for our Nation, not a half-time Congress (they work half-time now, full salaries and look what is
    happening- nothing). So what may sound like a winner now, might just jump up and bite you in the end, so to
    speak. Cut spending, fine, but there has to be revenue from somewhere to keep up with all the things we take
    for granted now. Roads, schools, firemen, policemen, etc. Reason before greed and hate will drive America
    back to her greatness and not some pip squeak issuing threats and pledges.

    November 18, 2011 10:49 am at 10:49 am |