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October 20, 2011
About that 'Supercommittee'...
We haven't heard much at all from the so-called "Supercommittee" - the committee set up to come up with another $1.5 trillion in cuts over 10 years that was part of the debt ceiling deal. There's a very good reason for that - they aren't doing anything. Washington Post: With a Thanksgiving deadline fast approaching, a powerful congressional panel devoted to debt reduction is running in rhetorical circles, unable to break the impasse over taxes that has long blocked aggressive action to tame the national debt. Though the committee's 12 members have been meeting for nearly two months in closed-door sessions, lawmakers, aides and others involved in the process say they have yet to reach consensus on the most basic elements of a plan to restrain government borrowing. There is no agreement on the scope of their ambitions: Should they aim to meet a savings target of at least $1.2 trillion over the next decade or "go big" with savings of $4 trillion or more? Nor is there agreement on a...(Read Full Post)