The Super Committee nears its deadline without a deal

POSTED: Friday, November 18, 2011 - 10:36am

UPDATED: Friday, November 18, 2011 - 10:37am

In Washington this morning: one crisis averted, another one looming.

Congress passed another temporary spending bill... So the government won't shut down this weekend, but the debt Super Committee has yet to come up with a plan to slash 1.2 trillion from the nation's bottom line, and their deadline is the day before Thanksgiving.

We're hearing two stories from this committee, and neither seems to be moving any closer to meeting this midnight Wednesday deadline, but the government will keep running until December 16th. Congress will deal with that again after Thanksgiving.

What�s still unclear is whether the Super Committee can come up with a deal. "Our debt crossed the $15 trillion number yesterday. That ought to be a giant wake-up call to the Congress that it's time to rip the Band-aid off and do what needs to be done," said House Speaker John Boehner, (R) Ohio.

"There needs to be a balance. It needs to be fair," said Super-Committee Member, Senator John Kerry, (D-MA).

Republicans say they've put $300 billion in new taxes on the table. There's confusion on whether Democrats, who wanted more, accepted that offer, "We have met their offer on revenue but we have said that it has to fair to the American people," said Co-Chair, Super-Committee, Senator Patty Murray (D-WA).

"There is no offer from the Democrats that meets our numbers," said Super-Committee Member, Senator Jon Kyl (R-AZ).

With no deal, automatic cuts will kick in including 600 Billion from the pentagon on top of 450 Billion congress already approved. "The amount that's currently planned for defense is way too high," said Super-Committee Member, Senator Pat Toomey (R-PA).

Senate Republicans are already working on a plan to block any automatic cuts, and there's word the committee may be working on a smaller deal. They plan to work this weekend.

Comments News Comments

Post new Comment