Quote:
Originally Posted by RichieLion
Like anything else in Washington these days leading up to next November's elections, the principals of the so called "super committee" need to secure their agenda, their vision, and their political party's public face.
More than trying to "fix", or even get a handle on the enormous debt run up by this administration, the two political parties involved want to establish their election agenda.
The party that blinks will probably lose the election. I think it's as simple as that. So each side has dug in their heels and is insisting on the most important aspects of it's agenda be inviolable.
|
I don't disagre with anything you've said, Richie. But I do think that it bears noting that the growing deficit and national debt is not just the product of this administration. The runup of debt began in the beginning of the first Bush administration, more than ten years ago. Deficit spending and the national debt has accelerated under the Obama administration certainly. But independent analyses show that the recent increased debt is as much caused by continuing to spend money on wars and the effect of the Bush tax cuts combined with lower revenues resultant from recession as it is from increased spending.
If the super committee punts and the "automatic" spending cuts are implemented and the Bush tax cuts expire and are not extended, we'll take a big step towards reducing the deficit and slowing the growth of the debt. No one is going to like the effect of those two "automatic" events--the defense budget will be slashed in a major way and almost everyone will be paying more taxes, not just the wealthy--but the Congress can go home pointing at the other party and telling their constituencies, "I didn't do that!"
Hmmm, maybe the "do nothing" Congress actually will have done something. And if everything runs true to form--I surely hope that it doesn't--the majority of the 535 will be re-elected!