Super Committee Doomed To Fail

The news out of Washington is the Super Committee is failing to come up with a deal to shave 1.2 trillion in cuts over the next 10 years. Are you really surprised?

No Surprise

There is absolutely no reason to believe this Super Committee ever could come to an agreement. How so? Well, what reason do they have to do so? To get a deal done, you would need new taxes and spending cuts to social programs and the military. Neither party was going to agree to these things.

Republicans have zero reason to help President Obama a year before the next election for the White House. Practically speaking, this means the Republicans want to slash social spending with no tax increases and they aren’t moving off their position. It is as simple as that.

Democrats are also cemented into their position. They are unwilling to cut social spending in any meaningful way. Instead, they want to raise taxes to make up the difference. They are pretty set on this as well.

In short, we have no deal. The truth of the matter is we already have a deficit program in place that the grandstanding idiots in Washington have put in place. The program involves the Bush tax cuts ending on January 1, 2012 and the end of various tax incentives that were created to support the recovery from the Great Recession. These changes will have the practical effect of putting much more money in to the government coffers.

Much Ado About Nothing

To truly understand how delusional Washington, D.C. is, one needs to only look at and understand how infantile this entire argument is. The Super Committee is seeking to figure out how to cut $1.2 trillion over the next 10 years. This equates to $120 billion a year on an annual deficit projected to be between $1.5 and 2 trillion dollars each year for the remainder of the decade. Even if they reached an agreement, they would be dealing with less than 10 percent of the yearly deficit moving forward!

The national debt level recently crossed the $15 trillion dollar level. That is staggering. The “politics as usual” approach of the Super Committee reveals that politicians are still unwilling to deal with the greatest threat this country has every faced.

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