Tuesday, November 22, 2011

Stupor Committee

The power given to the deficit superheroes of the 2011 Super Committee has been, well... anything short of ‘heroic’. 

In an attempt to cut the deficit by $1.2 trillion, the, six Republicans and six Democrats have talked in circles while the other 500 + members of the House and Senate sit idly by.

After watching several months of failed strategies aimed at reducing the nation’s $15 trillion debt, the United States Congress Joint Select Committee on Deficit Reduction has collapsed under the stress of partisan dissonance.

The effects of their failure to agree on a resolution may affect citizens in a myriad of ways, which include a potential payroll tax increase before 2012.

Political Analyst Fareed Zakaria predicted the Committee’s failure, stating “The Democrats are saying no cuts to entitlements. The Republicans are saying no taxes. That's great except we all know the only solution to our long-term debt problem is cuts in entitlements and new taxes”

Obama warns that taxes may go up as much as $1,000 for the average family, due in part to the failure of the Super Committee.

GOP candidate Mitt Romney criticized Obama, saying “Your policies have failed.  Far from bringing the crisis to an end, your policies have actively hindered economic recovery.”