Debt committee: On the verge of failure
November 21st, 2011
07:45 AM ET
2 years ago

Debt committee: On the verge of failure

New York(CNNMoney) - It looks like Congress is about to forfeit yet another opportunity to address the country's long-term fiscal problems before they get out of hand.

As early as Monday, the congressional debt committee - absent a miracle - is likely to issue an admission of failure.

FULL STORY

Filed under: Budget • Debt • Deficit • Deficit commission
soundoff (10 Responses)
  1. PA_outofwork

    FAIULRE; no surprise here given the lack of leadership from the White House and the Democrats in Congress. Chalk it up to the long list of FAILURES from Obama and this Congress.

    November 21, 2011 08:14 am at 8:14 am |
  2. Anthony

    Republicans will spend next year trying to block the automatic cuts to the military. In other words, they think the budget cuts should come entirely out of social programs such as Social Security, Medicare, and Medicaid. Republicans are willing to sacrifice seniors, the middle class and the poor so that we can afford tax cuts and military spending. People, we need to save our country from Republicans, before they get us into a war with Iran.

    November 21, 2011 08:20 am at 8:20 am |
  3. Fair is Fair

    Let the cutting begin!

    November 21, 2011 08:37 am at 8:37 am |
  4. jacq

    How's that 1% working out for you.

    November 21, 2011 08:54 am at 8:54 am |
  5. Sonnie2

    If 12 people intrusted to come up with an answer to our fiscal problmes, Then boot the out and put some in from john Q public to do the job. and give them the power to make their ideas law. Congress is a bunch of bickering , divided idiots that can't use common sense even in an emergency. And we are in a emergencky situation and we need LEADERS!!

    November 21, 2011 09:00 am at 9:00 am |
  6. Larry L

    Treat them like real people – recall them for absolute failure in performing their job. Seriously, each state should start petitions to recall these miserable examples of leaders. They're spending their paychecks and using their good healthcare benefits. Fire them.

    November 21, 2011 09:04 am at 9:04 am |
  7. ST

    It is sad that a small panel of 12 can not agree and come up with very concrete results. They have done totally zero work. As if this is not enough, they have been paid for doing nothing!

    November 21, 2011 09:06 am at 9:06 am |
  8. Sonnie2

    None of Congress needs to admit failure and we all know it as it is plain and clear to anyone with common sense. WE THE PEOPLE NEED TO VOTE THIS CRIPPLING BUNCH OF LEADERLESS , SELFRIGHTOUS, DIMM WITTS OUT OF WASHINGTON. Trust me their are those who can do the job lots better and lots faster than our current politicians that are only worried about themselves and no one else.

    November 21, 2011 09:06 am at 9:06 am |
  9. rs

    Does America need to reign in spending to get some control over the Republican built defict- certainly- and the Defense Department whose budget is 50% of the total U.S. Busget, and bigger than the next biggest counrties defense budget combined screams to be slashed.

    That said, it is high time that the GOP cut its ties to the ultra-radical anti-tax guru Grover Norquist. Taxes MUST go up. The "temporary Bush tax cuts on millionaires (at a time we started not one but two wars) made this crisis. Every resposnible President in history RAISED taxes and sold bonds to finance wars- but not the GOP.

    So where do we stand? The lowest tax rates (overall) in 50 years and the lowest tax rates for the super-rich in more than 60, the most millionaires and billionaires ever and the greatest budget defict in history. The Republican plan? Cut all social spending (face it they just want to kill Social Security and Medicare), and give the rich YET ANOTHER tax break- down to 25%!!

    Insanity reigns in the GOP- they say that people shouldn't be rely on the government to save them from their "bad" decisions (like being poor, or old, or needing an education, or getting sick). Perhaps they are right as long as Americans keep making the mistake of electing people to office who don't care about the condition of the poor and middle classes, and only the super-rich and themselves.

    Class warfare they bleat, yet they fail to see that impoverishing the eldely and middle class, wrecking healthcare, and education is nothing short of CLASS GENOCIDE on their part. REVOLTING!

    November 21, 2011 09:11 am at 9:11 am |
  10. joe

    big surprise! just look at who the GOP appointed to be part of the committee:. right wing nuts!! my gosh, even the rich cats are asking congress to raise their taxes. if the debt crisis is as seroius as eveyone says it is then we must have a balanced approach to solving it. it was clear to me a long time ago that the GOP has never had any intention in helping our president or country. it really is all about power and control for them.

    November 21, 2011 09:17 am at 9:17 am |