All Signs Are That Deficit Reduction Committee Will Accomplish Nothing [View All]

[Emit]

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All of those selected to serve on the committee are coming to the deliberations with uncompromisable positions on the issues that need to be compromised if the deliberations are to be successful. Three of the appointees -- Senator Max Baucus (D-MT) and Reps. Dave Camp (R-MI) and Jeb Hensarling (R-TX) ) were members of the Bowles-Simpson commission and indicated that there were against the comprehensive plan the two co-chairmen recommended (there was no formal vote). All six of the GOP appointees have taken the no-tax increase pledge. Although they haven't signed a piece of paper pledging not to cut Medicare, Medicaid, or Social Security, none of the Democratic appointees have shown any willingness to do compromise unilaterally on that...that is, they have only been willing to consider those changes if...and only if...Republicans agree to increase taxes.

None of this is the stuff that budget compromises are made of.

The important moment in last night's GOP debate in Iowa came when every candidate on the stage raised her or his hand to say they'd reject a 10-1 spending-cuts-to-tax-increase deficit reduction deal. In other words, even the most extreme tax increase to spending cut formula that has been mentioned in recent times -- or maybe ever -- was dismissed out of hand.

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How polarized are the Joint Select Committee's members as the debate begins? This graph from Enik Rising gives you one indication.

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http://capitalgainsandgames.com/blog/stan-collender/2342/all-signs-are-deficit-reduction-committee-will-accomplish-nothing