Super Committee might agree to spending cuts now, discuss tax increases later


Yes, I would gladly raise taxes tomorrow if you decimate Medicare, Medicaid and Social Security today.

Sure.  From Robert Pear at the NYT:

With a little over a week left to reach a deal, members of the Congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes.

In addition to the fact that they’ll never do the tax increases if they agree to the spending cuts first, guess who would be in charge of negotiating the tax increases for our side: Max Baucus. You’ll all recall the great job he did trying to appease the GOP for months on end during the health care reform debacle.

But here’s the real gem buried in Pear’s piece:

Some lawmakers have become so worried that the committee may deadlock that they have been talking about legislation that would stop the automatic cuts to the military.

And there’s the rub.

I never thought they’d touch defense spending. Somehow they’d find a way to exempt it, just offer another bill saying “fund our troops” and 99 out of 100 Senators would vote for it.

There are no indications that our economy is going to be in any better shape in 2013 than it is heading into 2012. In fact, far too many experts are talking about a lost decade heading our way. The last thing we should be doing is cutting spending and raising taxes, both of which suck demand out of the economy. But that’s where we’re headed because no one with an election certificate is willing to say the truth.

CyberDisobedience on Substack | @aravosis | Facebook | Instagram | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

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