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Deficit “supercommittee” is sending out S.O.S. signals to “Superman!”


Superman! Superman! Where are you?

The deadline is nearing and the supercommittee is still in the gate, fighting to determine who will be the first to yield. While the American public is sitting at the edge of their seats gripped with anticipation to see who will come out of the gate first, hopefully with a plan that they could sell to the public.

But the committee better hurry, before the bull throws the first politician to the ground and the next politician has to break through the gate and present Plan B in a believable and convincing fashion before they are overthrown by the Occupy Wall Street Movement.

The 12 members of the committee, made up of 6 members from the Senate and 6 from the House, representing both the Republicans and Democrats equally are: Patty Murray (D-WA), Co-Chair; Max Baucus (D-MT); John Kerry (D-MA); Jon Kyl (R-AZ); Pat Toomey (R-PA); and Rob Portman (R-OH).

The House members are: Jeb Hensarling (R-5th/TX), Co-Chair; Dave Camp (R-4th/ MI); Fred Upton (R-6th/ Mɪ); Jim Clyburn (D-6th/SC); Xavier Becerra (D-31st/CA); and Chris Van Hollen (D-8th/MD).

Unfortunately after weeks of meetings, they are no closer to a breakthrough than when talks began last month and the reason is? Let’s say it together! “Taxes and cuts to major programs like Medicaid and Medicare for the elderly, poor and disabled.” Whew! You may exhale now!”

The two parties have equal strength on the panel, which has until the thanksgiving holiday at the end of November to come up with a plan to submit for up-or-down House and Senate votes in December. However, bipartisan compromise is a must for successful result.

The $1.2 trillion target evolved after efforts by President Obama and Republican House Speaker John Boehner to strike a so-called grand bargain on taxes and spending fell apart in July.

Failure to produce a measure would trigger painful across –the-board cuts to the Pentagon, domestic programs, including Medicare, Medicaid and Food Stamps.

The across-the-board sequester wouldn’t take effect, however, until the beginning of 2013, which is already fueling speculation that Congress would simply revisit the issue after the elections next year.

Stay tuned and pray that we won’t see each other in the soup line!

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October 11, 2011 - Posted by | Business News | , , , , , , , , , , , ,

1 Comment »

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    Comment by seo company | November 3, 2011 | Reply


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