Super committee: What's next
November 21st, 2011
11:27 AM ET
2 years ago

Super committee: What's next

New York (CNNMoney) - Barring a miracle, the experiment is over.

Stumbling over taxes and entitlements, the so-called super committee is entering its final hours having failed to agree on a debt reduction package of at least $1.2 trillion.

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Filed under: CNNMoney.com • Congress • Debt • Deficit • Deficit commission
soundoff (19 Responses)
  1. Mikey

    Take the gang of six, have them all renounce any "pledges" they have made, put them in a room together and start with Simpson-Bowles as a template. When they complete their plan, have the entire Senate and house take up-or-down votes on the whole thing without amendments. Then, we the people, can vote out of office anyone who votes against the best interest of America.

    November 21, 2011 11:38 am at 11:38 am |
  2. Fair is Fair

    What's next? The participants will go to their respective leadership and tell them "mission accomplished". Newt was right – this idiocy was designed to be doomed to fail.

    November 21, 2011 11:40 am at 11:40 am |
  3. Four and The Door

    Actually, America wins because Obama's greedy efforts to raise taxes get shot down again. Not only that, but we get more cuts in the federal budget. This is not at all close to what is required, but it is a momentum change. America wins.

    November 21, 2011 11:41 am at 11:41 am |
  4. Keith in Austin

    How's that retirement investment-fund looking for you today? One more example of how our Government under Obama's non-leadership is failing us! A Super Committee impasse resulting from a misguided belief that we must have MORE TAX REVENUE to pay for GOVERNMENT'S insatiable SPENDING habit! The American Voters (that do pay taxes) will rise up next year and send Obama and tax-and-spend Liberals packing! Just wait and see! The clock is ticking. Tick tock tick tick.

    November 21, 2011 11:47 am at 11:47 am |
  5. Dave J

    What's Next?

    Hmm.. Maybe a Super Super Committee

    November 21, 2011 11:48 am at 11:48 am |
  6. Rudy NYC

    Four and The Door wrote:

    Actually, America wins because Obama's greedy efforts to raise taxes get shot down again. Not only that, but we get more cuts in the federal budget.
    ---------------
    Translation: Republicans win. We have deep spending cuts without any new revenues.

    House Republicans wrote the bill forming the supercommittee, and voted to pass it. The real scam in this whole thing is that the entire premise that one seated Congress can compel a future Congress to do anything is prohibited by the Constitution. I really do not see what the point of the entire exercise was, exept to waste time through political posturing.

    November 21, 2011 11:53 am at 11:53 am |
  7. Four and The Door

    Rudy NYC

    Four and The Door wrote:

    Actually, America wins because Obama's greedy efforts to raise taxes get shot down again. Not only that, but we get more cuts in the federal budget.
    -----
    Translation: Republicans win. We have deep spending cuts without any new revenues.
    _______________________________________________________________________________________________
    I have to agree. The interesting thing is that the Democrats stuck their nose up at a generous offer of $400 billion in new revenues because they thought they could get it all in raised taxes.

    November 21, 2011 12:11 pm at 12:11 pm |
  8. Rudy NYC

    Keith in Austin wrote:
    A Super Committee impasse resulting from a misguided belief that we must have MORE TAX REVENUE to pay for GOVERNMENT'S insatiable SPENDING habit!
    ----------------
    Classic conservative denial. Have you noticed that none of the annual budgets under Obama have exceeded the final annual budget deficit under George W. Bush?

    No? Well, American has noticed that all attempts to reduce the annual deficit by correcting mistakes of the previous administration have not gone unnoticed. The concerted effort to block all attempts to correct past mistakes has not gone unnoticed. The current conservative proposals on the tables for more of the Bush administration poliicies, those which got us into this mess in the first place, have not gone unnoticed, either.

    November 21, 2011 12:16 pm at 12:16 pm |
  9. Indy

    Whats next ? Jail time for all that signed a pledge against the people, and for the minority. Serious jail time is due for all of Norquists army of Republicans out to destroy the country.

    November 21, 2011 12:18 pm at 12:18 pm |
  10. Independent Voter

    Vote all republicans out of the office they dont want to tax the rich to help our economy.
    Republican are destroying our country.

    November 21, 2011 12:23 pm at 12:23 pm |
  11. Fair is Fair

    Independent Voter

    Vote all republicans out of the office they dont want to tax the rich to help our economy.
    Republican are destroying our country.
    -------
    If you feel this way, why are you an "independent" voter? just askin...

    November 21, 2011 12:36 pm at 12:36 pm |
  12. Four and The Door

    Independent Voter
    Vote all republicans out of the office they dont want to tax the rich to help our economy...
    _____________________________________________________________________________
    Wrong again. The wealthy and high earners already pay much more in taxes than everyone else, as a percentage of income or in real dollars... however you want to look at it.

    It's time for the government to control spending. It is already $15 trillion in the hole and still growing. If you don't think it matters, look at Greece, Italy and very soon all of Europe. It matters.

    November 21, 2011 12:37 pm at 12:37 pm |
  13. Rudy NYC

    Four and The Door wrote:
    Wrong again. The wealthy and high earners already pay much more in taxes than everyone else, as a percentage of income or in real dollars... however you want to look at it.
    -------------
    Wrong. Spin again. Look at it this way. The average American homeowner earning $50,000 will pay 28% of his income to federal income taxes. In today's economy, that family is living paycheck to paycheck paying an additional 6-8% on sales taxes. They also pay another 6-8% of teheir income on property taxes. All told, they pay over 40% of their gross income to taxes.

    Compare that with the hedge fund manager who starts off paying only 18% and is not spending all of his income living paycheck to paycheck and he winds up at around roughly 30-35%, worst case. Most are well under 30%.

    November 21, 2011 12:53 pm at 12:53 pm |
  14. @OmegaRaiel

    The really wealthy have income not from wages which isn't taxed at a higher percentage or in real dollars compared to "normal people" taxes.

    November 21, 2011 01:02 pm at 1:02 pm |
  15. Democrat Class Warfare - Destroying the economy, destroying the country

    They were supposed to CUT SPENDING, not raise taxes. Are Democrats dense? They need to accept the fact that their great welfare society is crushing this country with unsustainable debt.

    BTW, could Patty Murray look any more CLUELESS??!! A real poster child for the Democrats.

    November 21, 2011 01:04 pm at 1:04 pm |
  16. kat

    Tax everyone fairly, even the low lifes who won't work and continue to live off the backs of hard working Anmericans who have earned their way. I could cut a lot if I had the chance, and extending Unemployment benefits for years and years, only keeps people unemployed. Way to go... Our politics are crazy.

    November 21, 2011 01:12 pm at 1:12 pm |
  17. gt

    if they cant come up with a game plan ,,all of them need to be fired....let them see how it is in the real world..

    November 21, 2011 01:26 pm at 1:26 pm |
  18. Mikey

    @Four and The Door
    "Wrong again. The wealthy and high earners already pay much more in taxes than everyone else, as a percentage of income or in real dollars... however you want to look at it."
    ****************************************************
    You are totally wrong. As a percentage of income, the wealthy do not pay as much as the middle class. In fact, the top 1% pay taxes of about 17% of income while many middle class taxpayers pay 20 – 25%.

    November 21, 2011 01:34 pm at 1:34 pm |
  19. The Greedy Old Pigs have declared class war on US!

    "The wealthy and high earners already pay much more in taxes than everyone else, as a percentage of income or in real dollars... however you want to look at it."

    More proof you've fallen for the propaganda manure served up by your GOBP deathcult. First, the better measure is percentage of wealth, as that is what a great deal of government infrastructure is designed to protect and enhance. Second, there is a moral reason for higher taxes on the filthy rich that you cultists refuse to address. As Lincoln himself (not to mention Adam Smith) stated: Labor is the superior of capital. The interests of capital must be subordinate to labor in order for a healthy system to continue. What we see now is the sickness in the system that results when capital takes over and forces ever-increasing wealth disparities. This does not end well. Perhaps you should look up the recent article about how most GOBP candidates would fail an Econ 101 class. Sounds like you would as well.

    November 21, 2011 02:16 pm at 2:16 pm |