Monday, November 21, 2011

Supercommittee set to announce failure to reach debt deal; a "Thanksgiving Massacre?"

Well, the Supercommittee’s super breast, as of now, is that it won’t reach an agreement. Failure is to be announced some time Monday.

John Kerry was on CNN Monday morning saying that the GOP wouldn’t back off Bush tax cuts for the very rich.  The GOP seems to have it old rhetoric that the Donkey isn’t serious about cutting spending.
 
Here’s Ezra Klein’s take on it right now.  Is this a matter of the GOP's worship of Grover Norquist (whom some people say rules the world right now).

What happens?  Yawn. The automatic cuts ($1.2 trillion) don’t start until 2013.  Of course, extended unemployment benefits, Medicare provider rates, defense jobs, programs for the poor, all are on the block. So would assistance to city transit systems.  Look at the trouble in the Washington DC area over keeping the Metro running on weekends (especially late).  Could existing Social Security benefits be at risk?  Legally, probably not, but some of the old scenarios could come back.


It’s “taxes vs. entitlements”  (to quote Will Cain, moderately conservative CNN commentator, who is cute.) Cain said that the AARP should stay out of the debate, it won’t affect them; it will affect people at his age, young enough to look good when Lady Gaga music plays.

Given our incompetent  Congress, it seems as though we need to replace our partisan system with a "parlor timocracy".  Or, at least, let Mark Zuckerberg rule the world.  Maybe he already does.

No comments: