Boehner’s Counter-Offer: Based on Impromptu Bowles Super Committee Testimony

By: Tuesday December 4, 2012 6:20 am

In trying to make a quick understanding of the Boehner counter-offer on the fiscal slope yesterday, I knew that his reference to the “Bowles plan” was not a reference to Bowles-Simpson but rather something Bowles wrote or said in November 2011. It turns out that it came from testimony before the failed Super Committee, where [...]

Waxman: Administration Endorsed Selling VA Property in West LA

By: Friday March 16, 2012 6:30 am

During the Super Committee negotiations last year, Republicans proposed, and the White House endorsed, the sale of a sprawling Veterans Administration campus in West Los Angeles that Democrats have long wanted to use to house homeless veterans, according to Congressman Henry Waxman. The longtime Democratic Congressman told a crowd at a town hall meeting in [...]

Do-Nothing Option on Deficits Finally Gets Noticed

By: Tuesday November 22, 2011 8:05 am

I like that only now, after nearly two years of deficit fearmongering, does the New York Times bother to mention that doing nothing on the deficit will reduce the deficit far more than any deal. The latest Congressional failure to agree on a plan for balancing the government’s books could yield a surprising result: a [...]

Obama Threatens Veto on Undoing Trigger Cuts

By: Tuesday November 22, 2011 6:39 am

President Obama positioned himself well politically in his statement on the demise of the Super Committee yesterday, particularly with this passage: One way or another, we will be trimming the deficit by a total of at least $2.2 trillion over the next 10 years. That’s going to happen, one way or another. We’ve got $1 [...]

FAIL: Super Committee Announces Defeat

By: Monday November 21, 2011 2:20 pm

The co-chairs of the Super Committee, Patty Murray and Jeb Hensarling, quietly admitted defeat today, in an official statement. I will reproduce it below in full. “After months of hard work and intense deliberations, we have come to the conclusion today that it will not be possible to make any bipartisan agreement available to the [...]

Why Were Expiring Stimulus Measures Expected to Pass in Super Committee?

By: Monday November 21, 2011 1:45 pm

There’s an emerging meme that I noticed yesterday, actually, occasioning the demise of the Super Committee. For some reason, lots of commentators are making a major assumption that cannot be proven. They are claiming that any Super Committee deal would have included extensions of expiring stimulus measures like unemployment benefits and the payroll tax cut. [...]

Trigger Cuts Would Add Layer of Austerity to Non-Defense Budget Come 2013

By: Monday November 21, 2011 10:19 am

With the failure of the Super Committee just a terse press release away, members of Congress have already started the important work of getting rid of the defense cuts triggered by that failure. John McCain and Lindsey Graham are writing legislation to prevent the defense cuts from happening. While a lot depends on what they [...]

Enough: Stock Market Drops Have Nothing to Do With Super Committee FAIL

By: Monday November 21, 2011 7:40 am

I tweeted last night, “When bad news from Europe tomorrow makes stocks tank, and the idiots in DC blame it on Super Committee fail, could someone correct them?” Apparently, no one told the AP or Washington Post, so I’m still wondering. Fears that talks to reduce the U.S. deficit will collapse added to existing worries [...]

Super Committee Preparing Decent Burial

By: Sunday November 20, 2011 12:34 pm

I was on Mark Thompson’s show on Sirius XM radio on Friday, and I said at that time that there’s a better chance of Herman Cain knowing what he’s talking about on Libya than the Super Committee coming to a deal. And indeed, I will not be proven wrong. It’s clear that the Super Committee [...]

Republicans’ Latest Super Committee Offer is a 181:1 Ratio of Spending Cuts to Tax Increases

By: Friday November 18, 2011 1:00 pm

Republicans apparently just submitted a last-ditch effort to get agreement on the Super Committee. It was a $545 billion proposal, less than half of the minimum requirement to avoid all of the automatic trigger cuts. And it included $3 billion in tax increases. For those of you scoring at home, that’s a ratio of about [...]

Super Committee Staggers to Finish Line

By: Friday November 18, 2011 6:19 am

The deadline for the Super Committee to complete its recommendations for deficit reduction is Wednesday, November 23. Realistically, they’ve already passed that deadline, because any agreement must go to the Congressional Budget Office for scoring. I guess Monday is the real deadline for that scoring process. So they plan to work through the weekend to [...]

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