Still No Deal on Cuts for Supercommittee

Thursday, 20 Oct 2011 10:05 AM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Despite two months of meetings, the supercommittee’s 12 members have little to show in their efforts to reduce the nation’s debt. The committee has failed to reach a consensus on such basic issues such as how much should they cut the debt and whether tax hikes should be part of the solution, The Washington Post reported.

The lack of progress is beginning to alarm members of Congress who face a Nov. 23 deadline to come up with a deal. Failure by the Joint Select Committee on Deficit Reduction to reach a deal that can be approved by Congress by Christmas will trigger $1.2 trillion in across-the-board cuts in January 2013, the Post reported.

“The clock is ticking,” Rep. Chris Van Hollen, D-Md., a committee member told the Post. “The next three weeks will be make-or-break for the success of this committee.” The committee was set up in the wake of this summer’s battle to raise the debt ceiling.

Republican committee members have so far refused to consider raising revenue through taxes and Democrats have refused to agree to entitlement cuts without new taxes, sources told the Post.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> 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

Religious Freedom Group Urges Pentagon to Pull Out of Prayer Day Event

Friday, 18 Apr 2014 11:33 AM

A military religious freedom organization has denounced a National Day of Prayer event next month on Capitol Hill as bas . . .

Ohio Teacher Fired Over Comment on Black President

Friday, 18 Apr 2014 11:28 AM

An Ohio teacher has been fired after a black student who said he wanted to become president claimed the teacher told him . . .

Parents Unhappy Michelle Obama to Speak at Graduation

Friday, 18 Apr 2014 11:04 AM

Some parents in Topeka, Kansas are upset because there will be a limited number of people allowed to attend a combined h . . .

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