WaPo: Supercommittee Failure Means . . . Nothing

Friday, 18 Nov 2011 12:20 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Despite being just days away from a Thanksgiving deadline, the congressional supercommittee tasked with finding $1.2 trillion in budget cuts isn’t sweating it. Turns out that the dreaded automatic cuts to the budget don’t kick into until 2013, The Washington Post reported.

In other words, should Congress blow the deadline, they have a year to come up with alternatives. Chances for a deal appear to be slipping away with Democratic and Republican members of the committee meeting separately and normally optimistic members seeming glum.

“We’re at a time in American history where everybody's afraid — afraid of losing their job — to move toward the center. A deadline is insufficient,” Sen. Max Baucus, D-Mont., said according to the Post. “You’ve got to have people who are willing to move.”

Should the committee fail, any debt deal would likely not occur until after the 2012 elections. Not only will massive cuts to the Pentagon and other federal agencies be just weeks away, so will expiration of the tax cuts pushed through by President George W. Bush.

Members of Congress and various interests are already planning for failure. Sen. John McCain, R-Ariz., and others have promised to introduce legislation to prevent $54 billion in defense spending cuts that would begin in January 2013 and Democratic members of the Gang of Six are talking about restarting their efforts, the Post reported.

© 2014 Newsmax. 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:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Paul Ryan: Obama's Impeachment Talk Is 'Ridiculous Gambit'

Wednesday, 30 Jul 2014 22:32 PM

Rep. Paul Ryan says legislation to deal with the crisis of illegal migrant children is imminent – but broader reform unl . . .

Feds to Give Company $84M for Destroyed Gaza Power Plant

Wednesday, 30 Jul 2014 22:09 PM

A little-known federal agency that helps U.S. companies expand overseas is reportedly ready to fork over $84 million to  . . .

War College to Make Final Decision on Montana Democrat Sen. Walsh

Wednesday, 30 Jul 2014 21:21 PM

The U.S. Army War College will have the final say over whether any punishment is warranted in a plagiarism investigation . . .

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