Wednesday, August 10, 2011

Prediction: Deficit Reduction "Super Committee" Will Fail to Reach Compromise

Nine of the 12 members of the deficit reduction "super committee" have now been named.  All six Rs have staunchly opposed tax revenue increases/tax expenditure reductions (Senators Kyl, Portman and Toomey; Representatives Camp, Hensarling and Upton).  On the other hand, the Ds named by Sen Reid (Sens Kerry, Murray and Baucus) suggest that the Senate Ds on the "super committee" may be more willing to advocate a “balanced” approach to deficit reduction that pairs spending cuts with new tax revenue.  (Minority Leader Pelosi has yet to name the three Ds from the House of Representatives who will serve on the committee.)

Apparently Sen. McConnell and Speaker Boehner didn't get the message from the S&P downgrade of the US debt rating that now is the time to start moving away from a dysfunctional political environment.  Looks to me like the Rs are doubling down on their ideological posturing.

Bottom line --- gridlock continues.