Keyword: supercommittee

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  • Puerto Rico's Revival

    11/17/2011 6:09:00 AM PST · by Kaslin · 2 replies ^ | November 17, 2011 | Cal Thomas
    SAN JUAN, Puerto Rico -- Since the congressional super committee appears unable, or unwilling, to take a lesson from Indiana or Virginia -- where Republican governors have made spending cuts and delivered budget surpluses without damaging the social safety net -- members might wish to consider Puerto Rico and what its governor, Luis Fortuno is doing. Fortuno is Puerto Rico's first Republican governor in 42 years. In 2009 when he took office, the U.S. territory had a $3.3 billion budget deficit. Three years earlier, Moody's Investors Service downgraded the commonwealth's bond rating to junk status while in deep recession. Like...
  • How The Supercommittee Can Fail Successfully

    11/16/2011 11:43:23 AM PST · by Slyscribe · 1 replies
    IBD's Capital Hill ^ | 11/16/2011 | Jed Graham
    A grand deficit-cutting bargain this year always looked like a virtual impossibility. After the Tea Party-infused Republican House swept into power on what they interpreted as a small-government mandate, there was simply no way to bridge the parties’ gaping divide over the Bush upper-income tax cuts and Obama’s signature health law.
  • Super Committee, Super Lie

    11/16/2011 9:14:04 AM PST · by St. Louis Conservative · 25 replies · 1+ views
    National Journal ^ | November 16, 2011 | Major Garrett
    When I left the White House beat to cover Congress, I told people what the biggest difference was between the two beats. People in the White House and Congress lie to you, I would say; the difference is that on the Hill it’s not the same lie told by the same seven people. That was true until the super committee was created. Now, instead of politicians lying to their constituents and reporters, they are lying to themselves. Not rationalizing, or trimming the truth, or speaking in euphemisms. Lying. Bald. Faced. Lying. The super committee is a thought experiment gone awry....
  • Don't Let the GOP Cave on Spending

    11/15/2011 2:31:06 PM PST · by SharpRightTurn · 9 replies
    Senate E-mail ^ | 11/15/2011 | Jim DeMint
    Fellow Conservatives: Despite bipartisan promises to cut spending after the 2010 elections, Washington politicians are still voting to make the government even bigger and more expensive than ever. Don't believe me? Even though the federal government is nearly $15 trillion in debt, it's spending at record-high levels. Federal spending has gone up 5 percent in the first nine months of this year alone. Just two weeks ago, Democrats and Republicans in the Senate passed three new spending bills to increase 2012 funding above 2011 funding levels. The bills will increase spending for the Department of Agriculture by $6.4 billion; for...
  • Reversion to the Clinton tax hikes: Time to rethink what our government has become

    11/15/2011 7:41:26 AM PST · by SeekAndFind · 3 replies
    Hotair ^ | 11/15/2011 | J.E. Dyer
    As we read more and more about the US federal government handing out money – borrowed-against-our-future money – to the private enterprises of Obama’s campaign donors, it is heart-warming to remember that the tax code is scheduled to revert on 1 January to what it was under Bill Clinton.This means that unless the Super Committee comes to an agreement to avert it, you are almost guaranteed to have a larger federal income tax bill next year.Money-manager-types explain, each time we reach this precipice, that going back to the Clinton tax code means virtually everyone who pays now will pay more....
  • GOP Snatching Defeat From the Jaws of Victory

    11/15/2011 9:17:55 AM PST · by Qbert · 17 replies
    Human Events ^ | 11/14/2011 | Brian H. Darling
    Now comes an opportunity for House and Senate Republicans to push a strong Balanced Budget Amendment (BBA), but not only have House Republicans tossed an interception on the BBA, but they also appear to have preemptively surrendered a touchdown to the liberals on tax policy as part of the Super Committee negotiations. If conservatives want to win, they should take the BBA and the $1.2 trillion in cuts mandated by the Super Committee directly to the American people, who tend to reward politicians who fight tax hikes and push for deep cuts to the federal government.  Yet they seem intent...
  • The Supercommittee Will Fail — And When It Does, Markets Will Crash

    11/15/2011 6:47:08 AM PST · by SeekAndFind · 33 replies
    Investor Place ^ | 11/15/2011 | Jeff Reeves
    Partisan politics will make any meaningful deal difficult to reach. The so-called Congressional supercommittee — a group of 12 politicians with the unenviable task of reaching a compromise on federal spending and our massive budget deficit — is running out of time. And so are American consumers and investors hoping for a deal to bolster a struggling economy and prove the stock market rally is here to stay. Only about a week is left for the group of six Republicans and six Democrats to craft a plan that will slash $1.2 trillion from the U.S. deficit during the next decade....
  • House GOP leader Cantor says deficit deal likely

    11/14/2011 4:54:01 PM PST · by Jeff Chandler · 14 replies ^ | Nov 14 05:01 PM US/Eastern | DAVID ESPO
    WASHINGTON (AP) - Sidestepping controversy, House Majority Leader Eric Cantor, R-Va., declined to take sides Monday on a proposal for higher taxes backed by fellow Republicans on Congress' supercommittee, yet expressed confidence the panel would agree on a deficit-reduction plan of at least $1.2 trillion by a Nov. 23 deadline. A proposal for $300 billion in higher taxes has stirred grumbling within the ranks of congressional Republicans, for whom opposition to such measures has been political bedrock for more than two decades. One prominent conservative, Rep. Jim Jordan of Ohio, said in a published commentary during the day that "our...
  • Supercommittee looking for an 'out' on tax increases

    11/14/2011 9:42:17 AM PST · by Qbert · 16 replies
    American Thinker ^ | November 14, 2011 | Rick Moran
    Whenever congress gets stuck, they start complaining and pass the buck. Or kick the can down the road: With a little over a week left to reach a deal, members of the Congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes. Under this approach, the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the...
  • Panel seeks way to reach a deal on tax increase

    11/14/2011 5:17:52 AM PST · by upchuck · 9 replies
    NY Slimes via MercuryNews ^ | September 13, 2011 | Robert Pear
    With a little over a week left to reach a deal, members of the congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes. Under this approach, the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the Nov. 23 deadline for the panel itself to reach an agreement. That would put off painful political decisions...
  • America's Time For Decision and Definition

    11/14/2011 6:28:14 AM PST · by Kaslin · 2 replies ^ | November 14, 2011 | Star Parker
    The Wall Street Journal calls the economic implosion now taking place in Europe “a crisis of the welfare state.” The latest European nation to hit the wall is Italy, where national debt is 120 percent of GDP. That is, for every dollar their national economy produces, they owe $1.20. The Journal calls this a crisis of the welfare state because this Italian national debt well in excess of the ability of Italians to pay for these obligations is the direct result of excessive government spending. When the Republican presidential candidates were asked in the most recent debate if the United...
  • Deficit 'super committee' may put off decisions

    11/12/2011 12:31:29 PM PST · by Hojczyk · 22 replies
    Los Angeles Times ^ | November 11,2011 | Lisa Mascaro
    Rather than risk stark failure, the congressional panel could decide now on only the outline of a deal, deferring the tougher calls until after the 2012 election. Some Republican leaders believe the White House would prefer to see the committee fail so that Obama could continue to run against a "do-nothing Congress." "It does raise your suspicion," said Sen. Mitch McConnell of Kentucky, the Republican leader. "If the joint committee succeeds, it steps on the story line that they've been peddling, which is that you can't do anything with the Republicans in Congress." Democrats have their own suspicions — that...
  • Will Obama really insist on debt triggers if the supercommittee fails? (How serious is he?)

    11/12/2011 11:40:02 AM PST · by SeekAndFind · 9 replies
    American Thinker ^ | 11/12/2011 | Rick Moran
    President Obama warned congress that he would insist on activating the debt triggers that would lead to automatic budget cuts across the board if the supercommittee fails to find the cuts mandated under the debt ceiling agreement from last summer. Washington Post: President Obama called the Democratic and Republican chairmen of Congress's special deficit reduction supercommittee Friday and urged them to reach a deal, as the panel's deadline for agreeing on a strategy to slash the nation's debt rapidly approaches. In separate phone calls, Obama urged Sen. Patty Murray (D-Wash.) and Rep. Jeb Hensarling (R-Tex.) to find a way to...
  • K Street's Super Committee Splurge

    11/11/2011 2:32:30 AM PST · by Kaslin · 1 replies ^ | November 11, 2011 | Michelle Malkin
    The bipartisan debt panel to nowhere is exactly where K Street lobbyists want it to be: hopelessly deadlocked. A November 23 deadline for agreement on $1.2 trillion in budget savings is looming, but no real reductions in the size, scope or spending of government are on the table. Instead, we are witnessing another obscene special-interest splurge to preserve the status quo. All in the name of "reform," of course. The only thing "super" about the so-called budget control super committee is the size of lobbying muscle exerted on its members. Almost 100 registered lobbyists who are former employees of super...
  • Stop the Insanity!--Who will Break the Political Deadlock Over the Super Committee?

    11/10/2011 1:31:07 PM PST · by clove · 10 replies ^ | November 10, 2011 | Juan Williams
    Republican stonewalling on tax hikes for the very rich remains the primary obstacle to the Super Committee reaching a debt deal to restore stability to the nation’s economic future. On the issue of raising taxes for the rich, the GOP majority in the House has defied the will of the American people, the Democratic majority in the Senate and the president. So, it is maddening that some Democrats now want to mimic the GOP’s politics of polarization by undermining the Super Committee as it approaches its Nov. 23 deadline. Rep. Maxine Waters (D-Calif.) recently introduced a bill to repeal the...
  • Democrats want war savings to fund new stimulus package

    11/10/2011 10:19:11 AM PST · by BradtotheBone · 20 replies
    The Hill ^ | 11/10/11 10:43 AM ET | Erik Wasson and Julian Pecquet
    Democrats on the supercommittee have proposed that the savings from the end of the wars in Iraq and Afghanistan be used to pay for a new stimulus package, according to a summary of the $2.3 trillion plan obtained by The Hill. The latest offer from Democrats on the deficit panel, made Monday night to their Republican counterparts, would use some of the war savings to help pay for spending on infrastructure. The budget savings from ending the wars are estimated to total around $1 trillion over a decade, according to an estimate in July from the Congressional Budget Office. The...
  • Rooting for Failure: Democrats Walk Away from Super Committee

    11/10/2011 10:08:08 AM PST · by Driftwood1 · 14 replies
    Townhall ^ | 11-10-11 | Guy Benson
    Republicans offered a debt reduction blueprint that includes meaningful tax reform, needed spending cuts, and at least $300 Billion in increased federal revenue -- the piece of the puzzle the Left relentlessly focuses on. Yet Democrats just aren't interested:
  • Report: Democrats walk away from Super Committee? Dem Rep: 'I hope they can’t make a deal'

    11/09/2011 3:25:24 PM PST · by SeekAndFind · 25 replies
    Hotair ^ | 11/09/2011 | Allahpundit
    So says Rand Paul to Hannity. Rich Lowry’s hearing the same thing: Democrats last night rejected a framework for compromise that would have included significant new revenues. They had sounded amenable to the possible deal, but their position suddenly hardened after going back to their caucus. It is almost surely an indication that they want to do everything they can to validate President Obama’s line of attack on a “do nothing” Congress. Sen. Pat Toomey had worked out a framework that he considered pro-growth and a reasonable first step toward fiscal restraint, while making a major concession to Democrats on...
  • 40 House Republicans Ask Super Committee for Higher Taxes (List of Names)

    11/09/2011 9:30:04 AM PST · by Rational Thought · 35 replies
    Late last week, a group of 100 U.S. Representatives sent a letter to the so-called Super Committee urging the handpicked group of twelve legislators to consider “all options for mandatory and discretionary spending and revenues” in order to reach the committee’s goal of $1.2 trillion in deficit reduction over the next ten years. In Washington speak, this is code for raising taxes. Among this list is 40 Republicans whose capitulation encouraging the committee to raise taxes is troubling. We shouldn’t be surprised to see 60 Democrats seizing on the opportunity to drive a wedge between conservatives intent on restoring economic...
  • Rick Perry On the Super Committee and Energy

    11/09/2011 8:14:05 AM PST · by casinva · 10 replies
    Human Events ^ | November 9, 2011 | Erick Erickson
    In part two of my interview with Texas Governor Rick Perry, I asked him about his views on the Super Committee in Washington and what they may or may not do. This led into his views on energy and his position on the Keystone XL Pipeline. Governor Perry​ has some strong opinions on energy independence and some equally strong views on the Super Committee and Barack Obama's failures of leadership. ********** See this segment of the video at the linked article. There is also a link to the first part of the interview for those who are interested. VIDEO LENGTH:...