‘Super Committee’ Fails to Reach Agreement, Obama Threatens to Veto Any Effort to Get Rid of $1.2T in Automatic Cuts
- Posted on November 21, 2011 at 5:40pm by
Christopher Santarelli
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(The Blaze/AP) Congress’ supercommittee conceded ignominious defeat Monday in its quest to conquer a government debt that stands at a staggering $15 trillion, unable to overcome deep and enduring political divisions over taxes and spending.
Stock prices plummeted at home and across debt-scarred Europe as the panel ended its brief, secretive existence. Republicans and Democrats alike pointed fingers of blame, maneuvering for political advantage in advance of 2012 elections less than a year away. Both sides agreed action was still required, somehow, and soon.
“Despite our inability to bridge the committee’s significant differences, we end this process united in our belief that the nation’s fiscal crisis must be addressed and that we cannot leave it for the next generation to solve,” the panel’s two co-chairs, Sen. Patty Murray, D-Wash., and Rep. Jeb Hensarling, R-Tex., said in a somber statement.
They added it was not possible to present “any bipartisan agreement” – omitting any reference to the goal of $1.2 trillion in cuts over a decade that had been viewed as a minimum for success.
President Barack Obama held a press conference at 5:45 p.m. Monday to discuss the committee’s impotence, and threatened that he will veto any effort to get rid of automatic spending cuts that would take effect in 2013 if Congress can’t find other ways of trimming government deficits:
Those spending cuts include significant reductions to the Pentagon that Defense Secretary Leon Panetta has said would be devastating to the military.
“Instead of pointing fingers and playing the blame game, Congress should act,” said Jay Carney. He said the automatic cuts that would fall on the Pentagon are “deeper than we think is wise,” but he added the administration does not think Congress should undo them. Obama signed the legislation earlier in the year that mandates the cuts as a stopgap in case the committee failed to agree.
“There are too many Republicans in Congress who have refused to listen to the voices of reason and compromise, that are coming from outside of Washington,” said President Obama Monday evening. “They continue to insist on protecting the hundred billion dollars worth of tax cuts for the wealthiest 2 percent of americans at any cost. Even if it means reducing the deficit with deep cuts to things like education and medical research. Even if it means deep cuts in Medicare.”
Some Republicans said Obama shared the blame for any failure. “It’s amazing to what lengths he will go to avoid making tough decisions,” said Texas Gov. Rick Perry, a GOP White House hopeful.
Based on accounts provided by officials familiar with the talks, it appeared that weeks of private negotiations did nothing to alter a fundamental divide between the two political parties. Before and during the talks, Democrats said they would agree to significant savings from benefit programs like Medicare, Medicaid and Social Security only if Republicans would agree to a hefty dose of higher taxes, including cancellation of Bush-era cuts at upper-income brackets. In contrast, The GOP side said spending, not revenue, was the cause of the government’s chronic budget deficits, and insisted that the tax cuts approved in the previous decade all be made permanent.
The Democrats’ “idea was this was the opportunity to raise taxes,’” said Sen. Jon Kyl of Arizona, the Senate’s second-ranking Republican and a member of the supercommittee. “It didn’t matter what we proposed; the price of that was going to be $1.3 trillion in new taxes,” he added in a CNBC interview, although Democrats made at least two offers that called for smaller amounts of additional tax revenue.
Sen. John Kerry, D-Mass., said on MSNBC, “I have demonstrations outside my office. I’ve had rallies. I’ve had unbelievable amount of pushback because we were ready and prepared to put on the table some of those so-called sacred cows.” Republicans, he said, refused to consider cancellation of the tax cuts for the wealthy.
The talks also were hampered by internal divisions within both parties.
Republicans offered a plan crafted by Sen. Pat Toomey of Pennsylvania about two weeks ago that included an additional $250 billion in tax revenue through an overhaul of the tax code that included reducing the top tax rate from 35 percent to 28 percent. Some Republicans criticized it as a violation of the party’s long-standing pledge not to raise taxes. Even some in the GOP leadership, including Senate Republican Leader Mitch McConnell of Kentucky and House Majority Leader Eric Cantor of Virginia, declined to endorse it in public.
At the same time, Democrats ridiculed it as a tax cut for the rich in disguise – even privately criticizing Sen. Dick Durbin, D-Ill., when he said it could signal a breakthrough – and it failed to generate any momentum toward compromise. Senate Majority Leader Harry Reid, D-Nev., and others also accused Republicans of bowing to the wishes of Grover Norquist, an anti-tax activist whose organization has gathered signatures from GOP candidates on a petition pledging never to raise taxes.
And Democrats had problems of their own. An offer presented by Sen. Max Baucus, D-Mont., to cut about $3 trillion from future deficits failed to win the backing of two of the six committee members of his own party. Officials said they objected because it would have curtailed future cost-of-living increases for Social Security recipients. Some Senate liberals spoke out against the provision in speeches, Baucus jettisoned it from a subsequent offer and Republicans cited that as an example of Democratic intransigence.
The panel’s failure marked the end of an extraordinary yearlong effort by divided government to grapple with budget deficits that lawmakers of both parties and economists of all persuasions agreed were unsustainable.
Negotiations in the Capitol led by Vice President Joseph Biden were followed by an extraordinary round of White House talks in which Obama and House Speaker John Boehner sought a sweeping compromise to cut trillions from future deficits. They outlined a potential accord that would make far-reaching changes in Medicare and other programs, while generating up to $800 billion in higher revenue through an overhaul of the tax code. But in the end, they failed to agree.
By contrast, the supercommittee never came close, instead swapping increasingly small-bore offers that the other side swiftly rejected.
Within the past week, Democrats said they would accept a Republican framework for $400 billion in higher tax revenue and $800 billion or so in spending cuts, while rejecting numerous key proposals.
Late last week, Boehner floated an offer that included $543 billion in spending cuts, fees and other non-tax revenue, as well as $3 billion in tax revenue from closing a special tax break for corporate purchases of private jets. It also assumed $98 billion in reduced interest costs.
It was swiftly rejected.
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Comments (141)
UlyssesP
Posted on November 21, 2011 at 6:41pmObama threatens? Barack, you’re a pussie.
Report Post »Gold Coin & Economic News
Posted on November 21, 2011 at 6:45pmNo kidding the Super Duper Committee didn’t succeed. Liberals want to spend money like it belongs to no one and can’t figure out trillions in social programs will eventually bankrupt this nation. How do you reason with intellectual Cretans such as this?
Report Post »http://www.congressinsiders.com/2011/11/did-congress-actually-think-the-super-committee-would-succeed/
banjarmon
Posted on November 21, 2011 at 7:19pmSHAME ON THE PEOPLE that elected the congressmen that were put on the super committee…
Report Post »EVERY ELECTION OF EVERY CONGRESSMAN SHOULD BE NATION WIDE SO WE CAN VOTE THE BAD IDIOTS OUT!!!!! WE MIGHT EVEN FIND SOME GOOD IDIOTS, if that happends.
keaton
Posted on November 21, 2011 at 7:23pmQuestion for media and Obama supporters. Would Bill Clinton have been absent from something so important?
Report Post »db321
Posted on November 21, 2011 at 7:36pmGo ahead Mr. Socialist and Chief draw that line in the sand. America is watching!
Report Post »Founding Father2
Posted on November 21, 2011 at 7:42pmThe Home Depot founder just went off on how bad this will be now that the committee hasn’t passed anything. ( http://www.americanparchment.com/video/2011/nov/home_depot_2012.html )
No business will buy or invest.
Report Post »Founding Father2
Posted on November 21, 2011 at 7:43pmAs I said before, Marco Rubio was right to say this is a lack of leadership from Obama to allow this to happen: http://www.americanparchment.com/video/2011/nov/rubio_failed_super.html
He should be our next VP.
Report Post »West Coast Patriot
Posted on November 21, 2011 at 7:45pmI know we need to vote for our representatives in the house in order for the people to be represented, but we should go back to having the states appoint Senators.
Report Post »TH30PH1LUS
Posted on November 21, 2011 at 7:54pmI saw John Kerry actually say out loud that it “wasn’t fair“ to keep tax cuts to the ”wealthy” Americans.
What he didn’t say, of course, was that our entire tax code is unfair.
Another thing he didn‘t say was that a minority of wealthy Americans bear MOST of the nation’s tax burden, while nearly HALF OF AMERICA pays no taxes whatsoever! Unbelieveable that NO REPORTERS challenge these liars with the facts!
Why is it so hard for Democrats to comprehend that they don’t have a “right” to steal more and more of our income? OH, right… I almost forgot. Because the Democrat Party has been transformed into the Communist Party over the last 30 years.
Report Post »hidden_lion
Posted on November 21, 2011 at 8:17pmThe bums all need to be fired. Congress has not accomplished anything in 3 years. They all need to donate their paychecks until they can fix the problem and actually have a budget.
Report Post »ACLUHater
Posted on November 21, 2011 at 8:18pmNeed any more proof that the government is useless?
Report Post »Secret Squirrel
Posted on November 21, 2011 at 8:58pm.
The Stupid Committee was doomed from the start…by design.
The cowards in congress are too busy doing insider trading
and stuffing lobbyist money into their pockets to do their job.
God forbid they make a decision in an election year.
But, not to worry, there never was a plan to cut anything.
The country is doomed.
Unless we vote these crooks out NOW!
$1.2 trillion over 10 yrs? Are you kidding me?
Meanwhile, we run a deficit of $1.5 trillion a YEAR!
I’ll cut. 20% across the board………done.
Report Post »Why do we maintain 850 military bases around the world?
Why do we give away food stamps to those who sell them for $0.50 on the dollar?
your sensei
Posted on November 22, 2011 at 3:29amOh, so now you DON’T want spending cuts. Here, I’ll make you feel better . .. “Happy not Christmas but Holidays!”
Let the outrage begins . . . but not until you finish your Kit Kat bar, ‘K kids?
Report Post »Okie from Muskogee
Posted on November 22, 2011 at 4:14amThe biggest joke of all is on us, the American people.
If we do nothing military spending will increase 23% over ten years. If we sequester as suppose to happen, military spending increases 17% instead of the 23%….
It’s the same old crap of cutting increased spending and not spending less then last year. Just like the whole debt ceiling lie of “cutting” spending when we still spent more.
It’s all a big joke….War hawks don‘t want to cut their proposed spending increases and socialist hawks don’t want to cut their proposed spending increases. Neither progressive party wants to stop the damn spending.
Stop SPENDING….Spend less next year then this year…I’m Taxed Enough Already!
Wake up America!
http://www.ronpaul2012.com/2011/11/21/there-are-no-debt-supercommittee-defense-cuts/
Report Post »webjamm
Posted on November 22, 2011 at 8:50amThe super committee has decided…Merry and Pippin are not orcs….
Report Post »Cobra Blue
Posted on November 22, 2011 at 10:23amFailure by design…..plain and simple.
Report Post »4truth2all
Posted on November 22, 2011 at 8:11pmYo Webjamm:
Report Post »They could take a long time to say anything and it would still be worth nothing.
This “COM-E-mity should not exist.
MontyRay
Posted on November 21, 2011 at 6:41pmWhat can I say…
This President is going to go down as the single biggest failure in American History. A weak-minded political hack community organizer who never held a real job, and he never showed an ounce of leadership his entire one term.
If I were running against BO, I would collect all the non-leader moments. To name a few, start with his scolding of the SCOTUS in his SOTU, then maybe show him claiming we’ll “lead from behind” with Nato. There have to be dozens of moments like this. Condense it all into a 30-45 second commercial and buy up time in swing states.
Report Post »4X4in
Posted on November 21, 2011 at 7:00pmDon’t forget the number of states there are, or that hawaii is in asia, And all the apologies he mad while travelling to other nations!
Report Post »EurekaDave
Posted on November 21, 2011 at 6:39pmWith ALL that has been going on in America/World the past few years…….does anyone else feel like they are living in an episode of the Twilight Zone ? Recklessness in the Financial sector, corruption (be real,both parties to blame) in Politics, lack of any coherent leadership from anyone in politics, business……I swear Rod Serling’s voice is going to start speaking any moment now……is this how the Roman populace felt like before their fall from glory….
Report Post »Lateris
Posted on November 21, 2011 at 6:37pm1.4 compared to 15…
Report Post »salvawhoray
Posted on November 21, 2011 at 6:52pmand that in ten years.
Report Post »campt1
Posted on November 21, 2011 at 6:37pmHussein’s illegal committee, and he has the Gaul to blame the Republicans when for three years the Progressives controlled both party’s. More of the same blame game. No leadership here.
Report Post »godhatesacoward
Posted on November 21, 2011 at 7:58pmyep!
Report Post »chips1
Posted on November 21, 2011 at 6:34pmSeems strange with all that finger pointing, all of them should be expelled. Zero tolerance.
Report Post »OhSnappage
Posted on November 21, 2011 at 6:33pmThe very notion they created a super committee is a croc. Just another distraction to delay things. This president has done nothing but set up other people and blame them for his own actions. He will threaten the veto everytime someone will attempt to fix his mess. Let him veto, let it all fall on him. Sad it took the rhinos this long to figure Obama out. They should maybe listen to Sean Hannity, Mark Levine, or Glenn Beck once in a while.
Report Post »TRILO
Posted on November 21, 2011 at 6:18pmDid anyone think the outcome would have been different? It is a sad day when Congress can not even cut $1.2 trillion over TEN YEARS!!! BOTH PARTIES got us here and both parties continue the path of our destruction. Most of the sheeple in this country continue to be enablers for both parties to continue down the path to ruin. The Republicans did not even bring a balanced budget amendment to a floor vote with a cap on spending. The bill they brought forward was a compromise that could have opened up the budget to unlimited spending and revenue increases.
I believe it is now official… CONGRESS (both parties) IS AGAINST THE PEOPLE.
Report Post »encinom
Posted on November 21, 2011 at 6:28pmThe GOP’s oath to Norquist is more important to them than their oath of office.
Report Post »Patrick Henry II
Posted on November 21, 2011 at 6:34pmDid you know about the huge lie?
Report Post »The truth is that the defense budget even now with the “cut” will still grow at a huge 16% or so.
This will not gut the defense department. Obama might try to gut it of patriots but maney wise it is still just fine.
Problem is tht spending in every department including the ones with “cuts” is still growing.
Eliasim
Posted on November 21, 2011 at 6:17pmOh gosh, who didn’t see that coming?
Report Post »Eliasim
Posted on November 21, 2011 at 6:19pmThey aren’t going to cut spending until they are forced to cut spending, either by the American people or the country just collapses.
Report Post »garyM
Posted on November 21, 2011 at 8:52pmEliasim it seems you cans see into the future, tell us will Hillary anounce her candidacy for president before Jan 2012 or after? If after when, who will be her VP pick? Will she win?
Report Post »cyclops
Posted on November 21, 2011 at 6:15pmLMAO!!!!!!!……………………………Oh come one SC, you are supposed to make Obama look good. You are supposed to take away the headache from him and if you do a good job, he will take all the credit from you in taking ownership of your solutions………Hehehehehe….
Report Post »Maidoff101
Posted on November 21, 2011 at 6:12pmThese Phonies are once again in crisis mode over something They created in the first place! Get ready for the next shoe to drop in the name of “making a deal” Im sure Their all re arranging Their Portfolios while Odrama and the MSM together get their panties in a knot over the evil Republicans Who refuse to cooperate. They just keep playing the American People.
Report Post »Patrick Henry II
Posted on November 21, 2011 at 6:37pmThere will be no “cuts” in the “trigger” either. Just a little lesser growth. So spending will still continue to be record high spending eache and every year into the forseable future.
Report Post »ZAP
Posted on November 21, 2011 at 6:08pmThese are grown men,aren`t they?
Report Post »chips1
Posted on November 21, 2011 at 6:28pmOnce they mentioned Kerry, the crap hit the fan. Will he claim that his pride was injured and request another Purple Heart?
Report Post »Snowleopard {gallery of cat folks}
Posted on November 21, 2011 at 6:07pmWatch for the Obama spin meisters to strike out, strike fast, and strike hard over this matter. They have the situration they wanted, and now will exploit it for all it is worth.
Also, watch for Mr Obama and his admin to start fielding statements of “austerity measures are to be needed, to tame the debt, since the conservatives failed…” Anything like this will mean he is set to bring the next move home, more power and control grabbed up into his hands, as we enter into the shift between shove to shoot…
Report Post »welovetheUSA
Posted on November 21, 2011 at 6:06pmWe expected as , its Obamas plaform, do nothing republicans……..sad really. But poor Obama does not realize Washington has no leader……..but we will fix that 2012.
Report Post »encinom
Posted on November 21, 2011 at 6:31pmThe oath to Norquist is all that concerns the GOP, not their duty to the Country or their districts or States. The GOP has shown that they rather let the COuntry crash, than modestly raise the taxes on the richest 1%.
Report Post »Founding Father2
Posted on November 21, 2011 at 6:06pmMARCO RUBIO WAS RIGHT… ( http://www.americanparchment.com/video/2011/nov/rubio_failed_super.html )
It is Obama’s fault and he should get the blame for the lack of leadership.
Report Post »jamestoms
Posted on November 21, 2011 at 6:06pmHere, America says your fired DO NOT COME BACK, your stripped of all your extras and we the people want our money back. The SOB’s could have put what little things they did agree on out to us, but nothing???. If they agreed on nothing then put the terriost in jail!!!!!!!!!!!!!!
Report Post »lukerw
Posted on November 21, 2011 at 6:01pmThe Democrats (Socialists) selected Members to create a Failure… to blame the Republicans for not increasing Taxes (Redistribution)… and to Reduce Military Funding & Troop Levels (PeaceNiks)!
Report Post »Shasta
Posted on November 21, 2011 at 6:05pmAgreed, once I head that John Kerry was selected, I knew this was they only possibility.
Report Post »Dug2Dark
Posted on November 21, 2011 at 6:00pmUp with the spending.
Report Post »Up with the taxes.
Is It a bird?
Is it a plane?
No, it’s just that stupid *ss SuperCommittee.
& all we got was Clark Spend who turns into Super Tax Man, also starring barry o as Lois Blame.
Lord_Frostwind
Posted on November 21, 2011 at 5:58pmWhy is this a surprise to people? They say “republicans refuse to compromise” well let’s look at the options “do what we say or we won’t play” is the definition of Liberal negotiation, so refusing to do exactly what they want means it is your fault? If they didn’t have such willing thralls in the media, this really would look like just plain dumb.
I swear it is like trying to win an argument against Eric Cartman.
Report Post »chips1
Posted on November 21, 2011 at 6:40pmWhere is the Dog Whisperer? If he can fix Cartman, he can fix politicians. Sit Kerry!!! Sit!
Report Post »mrsmileyface
Posted on November 21, 2011 at 5:58pm: ‘Supercommittee’ Fails to Reach Agreement…………………..I think im going to fall over from being suprised. Herman Munster needs to crawl back to the lab to get his bolts tightened hes looking a little haggared.
Report Post »crolic9
Posted on November 21, 2011 at 6:11pmYou are sooooo right I wondered who he looked like….
Report Post »By the way tightened no losen them and let it fall where the sun does not shine…
since thats where it is most comfortable and at home…
Banshee34
Posted on November 21, 2011 at 5:58pmIs anyone truly surprised???
Report Post »Therightsofbilly
Posted on November 21, 2011 at 5:58pmLooking at that picture of Kerry reminds to me express my deepest thanks to GWB for keeping that idiot out of the White House.
And Gore too.
Report Post »crolic9
Posted on November 21, 2011 at 6:12pmyes
Report Post »13th Imam
Posted on November 21, 2011 at 5:51pmSo the DEMOCRATS had 2 solid years of the Senate , House and presidency, added 5Trillion dollars to the Debt, and Now can’t find ANY Cuts. 5 Trillion. Now they want to , NOT Cut , but only slow down the increase of the Deficit. Try this budgetary sham in your own household and tell me if it works. Any DEMOCRATS out there that can explain how to spend more than you make , Year after Year, and not go Broke? Anyone??
Report Post »Ron Staiger
Posted on November 21, 2011 at 5:46pmThis was about as much of a “Supercommittee” as my beloved Eagles are the “Dream Team”.
Report Post »13th Imam
Posted on November 21, 2011 at 5:59pmBut they kicked the Giants Butt’s last night. Thanks
Go Pats
Report Post »Dug2Dark
Posted on November 21, 2011 at 6:08pmCould be worst, could be a Colts fan. But there’s always next year. They could vote john Horse face kerry out & if he needs a job would make a great mascot for the Colts. Or wait, maybe kerry is an Eagles face, that would explain his long face.
Report Post »godhatesacoward
Posted on November 21, 2011 at 7:52pmOr a skins fan.
Report Post »CatB
Posted on November 21, 2011 at 5:43pmThe Republicans had better stand up NOW and let people know that these so called cuts to the Military etc are future increases in spending. Nothing is cut now … and the Dems failed to deal .. turned down tax increases.
TEA!
Report Post »texanpatriot
Posted on November 21, 2011 at 6:05pmI had so counted on this esteemed committee to come through that I have drawn the drapes and am currently in deep depression – not!
This was doomed from the beginning when the squabbling over the cuts after the committee failed intrigued those on both sides more than actually being successful.
Now the real fun begins including a further cut in our credit rating. I am giving great odds if anyone thinks that any cuts will be made before the next election!!
TEA
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