Tags:

White House: Too Soon to Write off U.S. Debt Panel

Thursday, 03 Nov 2011 02:33 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

* No signs of an outline for a plan

* Leading House Democrat says expectations are low

By Caren Bohan

WASHINGTON (Reuters) - The White House still has hopes for a congressional deal to cut the U.S. budget deficit, despite a looming Nov. 23 deadline and low expectations from the 12-member "super committee" charged with making a deal.

Many in Washington are growing increasingly pessimistic about the prospects for an agreement among the Democratic and Republican lawmakers on the special budget panel.

But White House budget director Jack Lew said Wednesday he has been in regular contact with the panel's members and viewed such prognostications as premature.

"I think that we have a habit in Washington of trying to write obituaries while the patient is still fighting," Lew said at a Politico Playbook breakfast. "I do live my life as an optimist."

With the panel's deadline for reaching an agreement only three weeks away, there is no visible sign yet of a plan or even the outline of one.

On Wednesday, Steny Hoyer, the No. 2 Democrat in the House of Representatives, described expectations for the super committee's success as low.

The legislation that established the panel of six Democrats and six Republicans requires agreement on at least $1.2 trillion in budget savings over 10 years to avoid setting off automatic budget "triggers" that would force deep cuts in both domestic and defense programs.

Revenue increases are at the heart of the super committee's logjam. Democrats insist they must be part of any deficit reduction deal but Republicans are so far sticking to their resistance to higher taxes.

Under a separate process, the U.S. Congress -- where Republicans control the House and Democrats have a majority in the Senate -- also must agree on bills to fund the government for the rest of the fiscal year that started Oct. 1.

A bill was passed in early October to keep the government funded temporarily but that expires on Nov. 18.

Asked if he was worried about a government shutdown if Congress cannot pass the bills at the end of the year, Lew said he was hopeful that could be avoided.

"There is a risk," he said. "There's no doubt that this could become another one those ideological conflicts. It shouldn't." (Writing by Caren Bohan; Editing by Bill Trott)

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Texas Sheriff to Newsmax: ISIS May Be Entering US From Mexico

Tuesday, 16 Sep 2014 23:16 PM

Law enforcement agencies along the U.S. border have received "an intelligence report" warning that members of the Islami . . .

ISIS Forum Urges 'Lone Wolf' Attacks in US

Tuesday, 16 Sep 2014 22:36 PM

An online forum for Islamic State (ISIS) terror group supporters is advocating "lone wolf" bomb attacks in New York City . . .

Average American Woman's Waistline Grows to 39 Inches: CDC

Tuesday, 16 Sep 2014 16:40 PM

Americans' belt size continues to inch up, and women's waistlines are widening faster than men's, according to new gover . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved