Super Committee Fails

[pr1042]

Such shocking news

Washington (CNN) -- Facing harsh reaction from financial markets and a frustrated public, the congressional "super committee" negotiating a possible deficit reduction agreement announced Monday it has failed to reach a deal.

A statement from the panel's co-chairs said that "after months of hard work and intense deliberations, we have come to the conclusion today that it will not be possible to make any bipartisan agreement available to the public before the committee's deadline."

Despite their failure, the committee's co-chairs said "we remain hopeful that Congress can build on this committee's work and can find a way to tackle this issue in a way that works for the American people and our economy."
President Barack Obama scheduled a 5:45 p.m. statement. Other reaction arrived swiftly.

Markets dropped as news spread of the panel's expected failure. The Dow Jones Industrial Average fell 248 points Monday, with a minor recovery after being down more than 300 points earlier in the afternoon.

Initial reaction had Democrats and Republicans blaming each other for the inability of the bipartisan committee to negotiate at least $1.2 trillion in deficit reduction measures.

http://www.cnn.com/2011/11/21/politics/super-committee/index.html?hpt=hp_t1

[Geor!]

It was funny when it came to playing the blame game. Jay Carney's ass stood up there and basically said "I don't want to lay blame on anybody, but if you're going to blame someone, blame the Republicans." Smug dickhead.

[GTBrian23]

And once again the party system fails. Nothing can never ever get accomplished by politicans because they dont want to be shown as "giving ground" to the other. This among other things like greed and just downright stupidity

[onemeangixxer7502]

What in this administration hasn't failed though? Politics are a simple dog and pony show for them to line their pockets.

[Vertnut]

What in this administration hasn't failed though? Politics are a simple dog and pony show for them to line their pockets.

Barry made up this "committee" because he's never made a hard decision or taken responsibility for ANYTHING. It was his way of passing the buck. Just look at his past voting records.

[Sgt Beavis]

We have the biggest bunch of spineless, dickless, morons on this Earth housed in Washington DC. It's too bad we can't nuke it. The human gene pool would be infinitely improved in an instant.

There is only one solution, vote them ALL out.

[91cavgt]

Moody's downgrade in 3............. 2............ 1.................








World wide depression in 100.......... 99............ 98...........

[Forever_frost]

The whole point of this super committee was to give everyone an escape. They could point to those 12 and say "They did it, not us." It was an election ploy that was never meant to work

[Broncojohnny]

I think it worked just fine, automatic reduction in future spending. That is, as long as they don't agree to disregard that. We need more shit like this where if they can't agree on something, cuts in future spending happen. We'll get a lot done.

[Forever_frost]

It won't stick. No one is bound by those 'automatic' cuts as they come in 2013 and a future Congress and President cannot be bound by past cuts.

[no4njnk]

It was never supposed to work and was part of the plan. Obama cannot run on his record so he will run against a do nothing congress. It's not his fault right? Why do you think the Dems never came up with a plan while the republicans came up with at least a half dozen?

[Broncojohnny]

It won't stick. No one is bound by those 'automatic' cuts as they come in 2013 and a future Congress and President cannot be bound by past cuts.

At least they have to actively do away with it, it is going to be a political liability to anyone who touches it.