The so-called “supercommittee” failed and I feel fine.
The biggest success of the conservative movement of the last 40 plus years has been their ability to wreck government and the people’s faith that government can help them. The framing our country’s fiscal arguments have evolved to a point where it is now taken for granted that all government spending is bad. Complicit in this, is the inability of the other side/Democrats to stand up, over the years, and vociferously defend the good that government does.
That being said it’s startling what was on the table for this committee. This is a really good take on the total farce that this committee was, Superfail! 7 Amazing Supercommittee Headlines You’ll Never See.
The Republican and Democratic co-chairs said today that “we end this process united in our belief that the nation’s fiscal crisis must be addressed.” That’s how this exercise in misplaced priorities ends: With a “bipartisan” statement about the urgency of our “fiscal crisis” – deficits – rather than our massive and much more immediate economic crisis of jobs and stagnating wages. And with that, the media onslaught begins. Now we’ll see hundreds of new headlines screaming that the Committee “failed.”
What we won’t see are headlines explaining what really happened: That this failure was inevitable; that it reflects the wishes of most people, Republicans as well as Democrats; that Occupy Wall Street played a large part in the outcome; that Republicans never intended to compromise and Democrats shot themselves in the foot; that this “failure” will be good for most businesses – and for the rest of us too; or that a misguided and right-leaning consensus turned leaders of both parties into cheerleaders for ill-timed budget cuts even as the economy continued to burn down all around them.
Here are seven more accurate – and more eye-catching – headlines you won’t see in your major media outlets.
Here are the 7 headlines (click the link above to read full explanations of each):
- OCCUPY MOVEMENT WINS MAJOR VICTORY
Unpopular ‘Supercommittee’ Deal Stymied by Popular Opinion
- GOP VOTERS HOLD “EXTREME” VIEW OF CUTS – EXTREMELY “LIBERAL,” THAT IS
“Left” Anti-Supercommittee Views Supported by Almost 3 Out of 4 Republicans
- GOP ‘COMPROMISE’ HOAX SPREAD BY PRESS, PUNDITS
Supposed “compromise” was actually more extreme than ever
- DEMS DEMAND TO GO ON RECORD AS EAGER TO CUT SOCIAL SECURITY, MEDICARE
Party Leaders Deny Defending Popular Programs, Insist They Were Prepared to Gut Them
- WASHINGTON MOURNS MISSED CHANCE TO ENSURE A ‘LOST DECADE’
Leaders lament lost opportunity to inflict ten years of economic misery
- BUSINESS LEADERS CELEBRATE SUPERCOMMITTEE FAILURE
They’re grateful that cuts won’t be enacted and make things worse, say executives.
- IN SURPRISE DEVELOPMENT, TERRIBLE IDEA DIDN’T WORK OUT
Pundits, Washington leaders express shock and dismay at failure of unpopular committee to agree on widely-hated cuts
What that shows is that the only thing this committee was super about was being superbly out of touch with reality. Overwhelmingly what the American people want are taxes raised on the wealthy, that money used to create jobs in our country, and help our economy recover. Doing nothing was the best result for this committee, and would be the best thing for our country going forward, The do-nothing plan: now worth $7.1 trillion.
In the past, I’ve talked about the “do-nothing plan” for deficit reduction: Congress heads home to spend more time with their campaign contributors, and the Bush tax cuts automatically expire, the 1997 Balanced Budget Act’s scheduled Medicare cuts kick in, the Affordable Care Act is implemented, and the budget moves roughly into balance. It’s not an ideal way to balance the budget, but it helps clarify that the deficit is the result of votes Congress expects to cast over the next few years. If, instead of casting those votes, they do nothing, or pay for the things they choose to do, the deficit mostly disappears.
Here’s a NYT editorial today that shows enough Democrats we’re willing to give away the farm that all that was needed was for one Republican to sign-on and a deal could have been done.
The only reason the committee failed was because Republicans refused to raise taxes on the rich, and, in fact, wanted to cut them even below their current bargain-basement level.
But, had a single Republican on the panel endorsed even a modest increase in upper-income tax rates, Republicans could have won trillions in cuts from entitlements and discretionary spending.
Watch Bernie Sanders explain why no deal was the best thing, Wolff Blitzer just doesn’t understand.
SANDERS: I want to make sure that in the midst of recession, when tens of millions of people are desperately hanging on, that you don’t cut those people at the knees so that they become even more desperate. The issue now, Wolf, let’s be clear, the richest people in this country are doing phenomenally well, large corporation, record- breaking profits. You do not balance the budget in a civilized democratic society on the backs of the most vulnerable. You ask those people who are doing well whose effective tax rates are lower than in that case to start paying their fair share of taxes.[…]
As digby says, it’s really hard for Blitzer to grasp the idea that, since Social Security really doesn’t have anything to do with the deficit, there’s no reason to slash it in deficit reduction. Then there’s his utter incredulity over Sanders’ intractability on Social Security.
Government must help the American people, especially in times like this. But the Democrats no longer want to say that and fight for the poor, working, and middle class Americans.
Woman Gets Jail For Food-Stamp Fraud; Wall Street Fraudsters Get Bailouts.
Debunking the conservative argument about the rich and taxes, in three easy charts.
No, `both sides’ aren’t equally to blame for supercommittee failure.
And a video: