{"id":5568,"date":"2011-08-09T02:28:41","date_gmt":"2011-08-09T09:28:41","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=5568"},"modified":"2011-08-09T02:28:41","modified_gmt":"2011-08-09T09:28:41","slug":"super-committee-under-pressure","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/08\/09\/super-committee-under-pressure\/","title":{"rendered":"Super Committee Under Pressure"},"content":{"rendered":"

The market\u2019s response to the Republican crisis, brought on by blackmail, has increased the pressure on the pre-existent Super Committee to reach a deal on the budget.  Depending on whether Reid appoints Democrats or DINOs, I see impasse as the best possible result, because you can be sure that the Republican six will all goose-step with draconian precision.<\/font><\/p>\n

\n

\"9supercom\"The downgrade of the United States government\u2019s credit rating by Standard & Poor\u2019s is almost sure to increase pressure on a new Congressional \u201csupercommittee\u201d to mute ideological disagreements and recommend a package of deficit-reduction measures far exceeding its original goal of at least $1.5 trillion, lawmakers said Sunday.<\/p>\n

Even before the panel is appointed, its mission is expanding. Its role is not just to cut the annual budget deficit and slow the explosive growth of federal debt but also to appease the markets<\/strong> and help restore the United States\u2019 top credit rating of AAA. Otherwise, taxpayers may eventually have to pay more in interest for every dollar borrowed by the Treasury. <\/p>\n

The report certainly got the attention of Capitol Hill. \u201cI think this is one of the most telling, important moments in our country\u2019s history right now,\u201d Senator John Kerry, Democrat of Massachusetts, said Sunday on the NBC program \u201cMeet the Press.\u201d He added: \u201cThis poses a set of choices not just about a recession. It\u2019s about a financial crisis and the structure of our economy, which really has been misallocating capital<\/strong>.\u201d <\/p>\n

In the S.&P. report on Friday outlining the reasons for removing long-term Treasury debt from its list of nearly risk-free investments, the company cited doubts about the ability of the two political parties to bridge their gulf on fiscal policy<\/strong>. <\/p>\n<\/blockquote>\n

Inserted from <NY Times<\/a>><\/p>\n

The problem, of course, is that only one side has been completely unwilling to negotiate, and there is no indication that will change.<\/font><\/p>\n

Lawrence O’Donnell discusses the Super Committee with Rep. Jan Schakowsky (D-IL).<\/font><\/p>\n

<\/embed><\/object><\/font><\/p>\n

Visit msnbc.com for breaking news<\/a>, world news<\/a>, and news about the economy<\/a><\/p>\n

She is spot on.  The third way, creating jobs to increase the revenue coming in is the best way to decrease the deficit, but I see no chance of passage for her bill.  Creating jobs to decrease the deficit is the last thing Republicans want.  In their view, for the economy to increase Americans\u2019 suffering, increases their chances to regain power and do for America what they have done for Wisconsin.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

The market\u2019s response to the Republican crisis, brought on by blackmail, has increased the pressure on the pre-existent Super Committee to reach a deal on the budget.  Depending on whether Reid appoints Democrats or DINOs, I see impasse as the best possible result, because you can be sure that the Republican six will all goose-step […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5568","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/5568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=5568"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/5568\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=5568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=5568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=5568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}