'Super Committee' likely to announce failure to reach debt deal

[madfranks]

What a surprise.

Link Here (http://www.cnn.com/2011/11/20/politics/super-committee/index.html?hpt=hp_t3)


Washington (CNN) -- Members of the "super committee" charged with coming up with $1.2 trillion in budget cuts are focused on how to announce failure to reach a deal, Democratic and Republican aides confirmed to CNN Sunday.

While aides said no final decision had been made, they acknowledged that -- barring an unforeseen development -- an announcement of an end to negotiations is the most likely scenario.

Talks on trying to reach a deficit reduction agreement are essentially over, and discussions are focused on a Monday announcement, a senior Democratic aide said.

Another senior Democratic source said, "No decisions or agreement has been reached concerning any announcement or how this will end. But, yes, the likely outcome is no agreement will be reached." A Republican aide said, "I don't think they've decided when they will do it."

Members of the 12-member bipartisan debt committee said Sunday a wide chasm remains.

A late Monday deadline looms for some kind of plan to move forward, with a vote required by Wednesday.

More at link...

[madfranks]

$1.2 trillion over 10 years is $120 billion/year, or about 3% of the annual budget, and they can't even figure out how to cut that much.
1605

[Neuro]

As I understood it when the committee was formed, that if they failed to agree on cuts, that the debt ceiling would not be raised again, is that still on, or did I miss something?

[Dogman]

The way things are going, methinks it is going to be very interesting on how many congress types get reelected. From what I can gather the vast majority of the people want those ass hats to work together, and that vast majority are independents, and do not suck tit from any party!

Election blood bath?

[Dogman]

As I understood it when the committee was formed, that if they failed to agree on cuts, that the debt ceiling would not be raised again, is that still on, or did I miss something? Preplaned automatic cuts kick in.

[Dogman]

Thinking about it a tad, that maybe exactly what they wanted to do! Automatic cuts that no one party can be blamed for. The cuts kick in and no one member can get hanged for it.

Thoughts?

[Neuro]

Thinking about it a tad, that maybe exactly what they wanted to do! Automatic cuts that no one party can be blamed for. The cuts kick in and no one member can get hanged for it.

Thoughts?

Probably! But that forfeits their mandates from the electorate. The whole reason for them to be there is to be responsible. If they can't the first cut should be on their salaries, staff and benefits...

[Dogman]

Probably! But that forfeits their mandates from the electorate. The whole reason for them to be there is to be responsible. If they can't the first cut should be on their salaries, staff and benefits... Then again I hold to my post above, about interesting elections and possible blood bathes as ass hats get thrown out! 1609

[Neuro]

Then again I hold to my post above, about interesting elections and possible blood bathes as ass hats get thrown out! 1609

That would be refreshing, but I doubt it. I guess getting 5% independents would be considered a victory at this stage... At least a step forward...

[Libertytree]

Probably! But that forfeits their mandates from the electorate. The whole reason for them to be there is to be responsible. If they can't the first cut should be on their salaries, staff and benefits...

"Ron Paul has been highly critical of the debt supercommittee’s progress in recent interviews. In an appearance on CNBC’s “The Kudlow Report” with Larry Kudlow Wednesday, Ron Paul expressed his disappointment with the Republicans on the debt supercommittee. “If Republicans don’t take a harder stance in supercommittee negotiations, President Barack Obama will win reelection,” Ron Paul told Kudlow. “If the Republicans capitulate there will be a punishment, and I don’t think there will be any changes in the executive branch,” Ron Paul added.

Ron Paul, and a bipartisan group of lawmakers, sent a letter to the 12 members of the debt supercommittee asking them consider congressional pay cuts as part of their plan to reduce the federal deficit. “As the Super Committee pursues its mandate to reduce the budget deficit by at least $1.5 trillion, we urge you to include in your final deal significant savings from reductions to Member of Congress compensation,” the letter reads. The letter states that a “five percent cut to the $174,000 Member salary would save $50 million over a ten year window, while a ten percent cut would save $100 million.”

[Dogman]

"Ron Paul has been highly critical of the debt supercommittee’s progress in recent interviews. In an appearance on CNBC’s “The Kudlow Report” with Larry Kudlow Wednesday, Ron Paul expressed his disappointment with the Republicans on the debt supercommittee. “If Republicans don’t take a harder stance in supercommittee negotiations, President Barack Obama will win reelection,” Ron Paul told Kudlow. “If the Republicans capitulate there will be a punishment, and I don’t think there will be any changes in the executive branch,” Ron Paul added.

Ron Paul, and a bipartisan group of lawmakers, sent a letter to the 12 members of the debt supercommittee asking them consider congressional pay cuts as part of their plan to reduce the federal deficit. “As the Super Committee pursues its mandate to reduce the budget deficit by at least $1.5 trillion, we urge you to include in your final deal significant savings from reductions to Member of Congress compensation,” the letter reads. The letter states that a “five percent cut to the $174,000 Member salary would save $50 million over a ten year window, while a ten percent cut would save $100 million.”

As it stands now, with the way the nominees are shaking out, it does not look good for the republican party. Hate to say it but bamma boy may have a walk in the park. All the info I can find about independent voters , points that revenue needs to be raised, plus spending cut. The republicans are shooting themselves in their collective foot!

[dys]

As it stands now, with the way the nominees are shaking out, it does not look good for the republican party. Hate to say it but bamma boy may have a walk in the park. All the info I can find about independent voters , points that revenue needs to be raised, plus spending cut. The republicans are shooting themselves in their collective foot!

This debt thing is just political theater. I wonder why no one ever asks this question: why are we as taxpayers required to pay back that which we never agreed to borrow in the first place?

dys

[Ponce]

The guy jumps out of the 100 floor building and as he is going past the 60 floor he is saying......well, I am still alive......sure, only 40 more floors to go.

To me this country is going past the 60 floor and with only 40 more to go......or in other words, there is no way for the man or the economy to go back to the 100 floor................I don't understand why the coat and ties can't see this.......soon they will start to give reasons as to why all this is happening......but wont give you a way to stop it or fix it.

[Sparky]

Preplaned automatic cuts kick in.

Not so fast. Pre-planned cuts begin in 2013, and there is already discussion about modifying or eliminating this mandate. Congress voted the mandate, so they can vote its removal. They can wait until after the 2012 election, and then vote to eliminate the mandate. Quite a system, eh?

[Dogman]

Not so fast. Pre-planned cuts begin in 2013, and there is already discussion about modifying or eliminating this mandate. Congress voted the mandate, so they can vote its removal. They can wait until after the 2012 election, and then vote to eliminate the mandate. Quite a system, eh? Yep ! ;D

Got's to love a rigged system! Same old same old! ;)

[mick silver]

anyone here that thought this would happen much be nutter the then fucks running the country