will the supercommittee meet it's deadline?

Bryan · 11-21-2011, 01:03 PM

Congress May Try Blocking Cuts If Debt Panel Fails | Fox News

What do you think? Will they meet their deadline? Find a loophole? Create a loophole? Fail completely?

I think we should amend whatever law they pass that has a stipulation that if they cannot balance the budget, then congress doesn't get paid, their income tax goes to 100%. Maybe we can call a constitutional convention and amend the constitution to add that.

jthomas1600 · 11-21-2011, 01:18 PM

I agree that they should be balancing the budget or being penalized. I wish we we get away from these big package deals. I saw on the news that there's bi partisan support for a parts of this bill. Why not pass those parts and go on from there?

**Rainer.** · 11-21-2011, 03:48 PM

The super committee will fail. Congress will find some loophole where the automatic cuts won't be used. There will be much more bickering and fighting to come. All in the name of he good of the American People. That's what I predict...

Bryan · 11-21-2011, 03:54 PM

they had an epic fail:

Super failure: Deficit-cutting panel gives up | AP Business Headlines | Dallas Business,...

Politicians just won't compromise! Republicans, you are going to have to give some tax increases and some military cuts. Dems, you are going to have to take smaller tax increases and give some social program cuts.

I wonder what would happen to our country if we immidiately reduced the budget by 30% to balance it and give a little surplus to pay towards the debt and make it shrink. Would that just spell disaster for our country?

jthomas1600 · 11-21-2011, 04:36 PM

To his credit, Obama has vowed to not let congress get out of the automatic spending cuts that are part of this failure. I hope he stands by that.

ICallHimTurtle · 11-21-2011, 07:13 PM

Quote:

Originally Posted by jthomas1600

To his credit, Obama has vowed to not let congress get out of the automatic spending cuts that are part of this failure. I hope he stands by that.

Truly, that is what I was just thinking.

**Epaphras** · 11-22-2011, 07:47 AM

The thing that makes me laugh is the "draconian" cuts they are talking about is the same dollar amount of the FY 2007 federal budget. We survived on that budget then, why can't we do it now?

It also amuses me that the supercommittee got gridlocked on chump change, and wasn't really discussing cuts at all. They were charged with trimming $1.2 trillion off a $10 trillion projected growth in the federal budget in the next 10 years. Last time I checked, $9 trillion in new spending instead of a planned $10 trillion is not a cut! If you currently spend more than you make in your household, and you go buy something that is 10x your annual income, but you got 10% off the price, that doesn't make it a good deal! If you spend more than you make by $1,000 a month and keep spending more and more, to the point where you will be $2,000 in the hole every month in 3 months, making that hole only $1,800 in three months instead of $2,000 is not a cut! You're still going in the wrong direction.

I like Sen. Paul's plan of trimming 1% off the FY11 budget each year for 10 years for a true $1 trillion savings. That's saying, "I spend $1,000 more a month than I can afford. I'm going to trim $100 a month and in 10 months I'll be even, and in a year I'll be back within my means." That's how you do that.

normajean777 · 11-22-2011, 04:55 PM

This whole thing is ridiculous. These guys can't agree on anything, and they aren't even trying to cut that much... Its like, lets set our goals really low so we can achieve them, but again, these low goals are kind high....

Plexi8759 · 11-25-2011, 12:16 AM

Yeah it makes me sick! Take a chainsaw to the budget! Sooner rather than later we will find out what unsustainable means! I too hope the president stands by his threat to veto said "loophole".