Tag Archives: supercommittee

You see, they aren’t really cuts; they are a slowdown in the budget increases.

The truth about the “automatic budget cuts” that are going to be imposed by the failure of the supercommittee: “They aren’t really cuts; they are a slowdown in the budget increases.”

And journalists should therefore stop calling them “budget cuts.”

Supercommittee gives up

The day of reckoning looms: The Congressional supercommittee has given up. The perspective of one member of the committee can be read here. Key quote:

The Congressional Budget Office, the Medicare trustees, and the Government Accountability Office have each repeatedly said that our health-care entitlements are unsustainable. Committee Democrats offered modest adjustments to these programs, but they were far from sufficient to meet the challenge. And even their modest changes were made contingent upon a minimum of $1 trillion in higher taxes—a move sure to stifle job creation during the worst economy in recent memory.

Even if Republicans agreed to every tax increase desired by the president, our national debt would continue to grow uncontrollably. Controlling spending is therefore a crucial challenge. The other is economic growth and job creation, which would produce the necessary revenue to fund our priorities. [emphasis mine]

This needs repeating: regardless of whether you think we should raise taxes in this situation, no tax increase can eliminate the deficit. The problem is out-of-control spending that needs to be seriously curbed.

Supercommittee to the rescue

The Supercommittee to the rescue!

They’re the new superhero group of Superfriends from the Supercongress who are going to save America from plummeting over the cliff and into the multitrillion-dollar abyss. There’s Spender Woman (Patty Murray), Incumbent Boy (Max Baucus), Kept Man (John Kerry) and many other warriors for truth, justice and the American way of debt. The Supercommittee is supposed to report back by the day before Thanksgiving on how to carve out $1.2 trillion dollars of deficit reduction and thereby save the republic.