Moral Outrage
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Posts Tagged ‘Super Committee

5 Misconceptions about the US Economy

November 23, 2011

MYTH #1: The congressional Super Committee failed because both sides refuse to compromise. REALITY: The Super Committee failed because Republicans’ number one, non-negotiable priority is to protect millionaires and billionaires from paying even one more penny in taxes.1 Democrats repeatedly offered to make deep spending cuts—far deeper than most progressives would like—in exchange for raising […]

The Super Committee failure reflects our own super failure

November 22, 2011

Leaders of the congressional supercommittee charged with trimming the federal budget deficit by at least $1.2 trillion have announced that the panel could not reach an agreement. As a result, across-the-board spending cuts—largely in Medicare and defense—are slated to go into effect in 2013. So the “super committee” failed. Can you honestly say you were […]

Cut health care for Congress

November 21, 2011

In April, the Republican-controlled House of Representatives voted to cut Medicare and Medicaid. And this month, even Democrats on the so-called Super Committee have offered deep cuts to these vital programs. Essentially, Republicans in Congress are telling senior citizens and the poor that tax cuts for billionaires and millionaires are more important than providing a […]

The Lessons of the Super Committee: Corruption rules dysfunctional Government

November 17, 2011

It would not be difficult for the so-called “Super Committee” to achieve the requirement of at least $1.2 trillion in savings over the next decade. … But, in many ways, the super committee is “occupied” by corporate interests and cannot act for the people. The make-up of the committee and the tens of millions of […]

Chinese ratings agency threatens US with new downgrade

November 14, 2011

The head of China’s biggest ratings agency, Dagong Global Credit Rating, is warning that it may downgrade the US’s sovereign debt rating again because of Washington’s failure to tackle the federal budget deficit. Dagong, which has maintained a pessimistic outlook on US fiscal policy, has been leading the charge to downgrade US debt over the […]

Who are the Super Committee Members and Why are they important?

September 24, 2011

The Budget Control Act of 2011, which raised the debt ceiling by $900 billion and cut discretionary spending by roughly $1 trillion, also formed the bipartisan Joint Select Committee on Deficit Reduction (known as the “super committee”). The panel is tasked with locating at least $1.2 trillion in additional deficit reduction. If a majority fails […]