The so-called "Supercommittee" appointed to address America's deficit problem, has publicly admitted defeat. Six Republicans and six Democrats failed in their duty to come up with a solution (read: compromise).
My source: http://www.washingtonpost.com/business/ … story.html
Some lines that leaped out at me in the ridiculous announcement:
1. Almost every member of Congress has left Washington for the week-long Thanksgiving break, so the legislative reaction to the committee's failure will not come until early next month.
The impasse leaves a host of other must-pass items, such as extensions for unemployment insurance and the payroll tax holiday, without any vehicle for passage before year's end.
[And we are paying these people to do what, exactly???? Why did they set TONIGHT as the deadline if they knew Congress was going to be recessed???]
2. Republican Spin
It wasn't so much of a failure as it was a failure to seize an opportunity. . . . This nation better seize another one or we will be in big economic trouble, Hensarling (R chair) said on Fox News Sunday.
[Failure is failure. It's a FAILURE.]
3. Democrat Spin
"I believe strongly that we still have the capability to come together to solve this problem, Murray (D chair) said on CNN's State of the Union.If the supercommittee can't do it, then I hope that Congress will. In fact, I'm committed to solving this. You can't just ignore this crisis."
[Uh, Patty? Congress FAILED to solve it, remember? Isn't that why we appointed YOU and the SUPERCOMMITTEE, because Congress had already failed???]
4. Financial Backlash
There is a real threat that not only will there be a downgrade,but that the market on Monday will look at Washington and say,"You guys can't get the job done.And just the political confusion and gridlock is enough to say to the world: America can't get its act together." John Kerry (D member)
Yes, that is exactly what the stock market did say today.
And nope. America cannot get its act together.
12 people in a room together since September. Imbued with unprecedented power to get a job done for the American people.
Could not come up with ANY plan that would get 7 votes. SEVEN VOTES.
NO one would cross that vast partisan divide. Not one.
So they throw up their hands and say, "Oh well. Guess we're just gonna have to trigger that $1.2 trillion in CUTS now."
That is beyond pathetic.
But not at all unexpected.
I have to say, I burst out laughing when I got the CNN email. I expected no less.
Laughing was not my reaction.
I heard the news first as it relates to today's dismal Wall Street numbers.
I thought to myself, "Hmmm. WHO might be reveling in such bad news? WHO might be happy about yet another stalemate in our Congress?"
Well, it's obviously not our POTUS.
He's pissed and I'm glad!
Personally I think that they actually want automatic cuts and this was a way to offer them a way to explain it to the American people. They can continue to blame each other for their lack of legislative support for the common man, or average citizen.
Ever notice how legislation gets passed that somehow is connected with some large special interest of either party? These guys are really no longer legislating for the United states but for the Corporate States of America!
Have a great Thanksgiving break congress while the rest of us are either working our selves to death to barely survive or completely unemployed.
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