Analysis of information sources in references of the Wikipedia article "United States Congressional Joint Select Committee on Deficit Reduction" in English language version.
... frustration over partisan political wrangling that threatened further economic harm to an already struggling recovery.
Congressional leaders say this panel has a better chance than many of its predecessors because the debt deal creates a strong incentive for bipartisan agreement: If the committee fails to agree or to win approval for a plan from the House and the Senate, the government will automatically cut at least $1.2 trillion over 10 years from hundreds of military and nonmilitary programs.
This guarantees that Members will face tremendous pressure to vote for whatever comes out of this commission.
Standard & Poor's issued a statement Friday about their downgrade of U.S. debt ...
... frustration over partisan political wrangling that threatened further economic harm to an already struggling recovery.
Reid said in a statement that Murray was tapped to co-chair the committee. 'As the events of the past week have made clear, the world is watching the work of this committee. I am confident that Senators Murray, Baucus and Kerry will bring the thoughtfulness, bipartisanship and commitment to a balanced approach that will produce the best outcome for the American people,' he said.
No. It's a punt. I mean, it's one more occasion where Congress has basically punted, kicked the can down the road, use what metaphor you want. It cuts $21 billion out of the 2012 budget, which is the only budget over which this Congress actually has any authority.
I don't remember ever having elected a Super Congress. However, apparently there will be a committee of twelve that will effectively run our country. This "Super Congress" of twelve will recommend cuts that will basically go unchallenged. ...
That means the most important players will be the four people picking the 12 lawmakers who'll be conducting those talks: Speaker John Boehner (R-Ohio) and Minority Leader Nancy Pelosi (D-San Francisco) in the House, and Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) in the Senate.
The second step in the process would come from the Congressional Joint Select Committee on Deficit Reduction, a special congressional committee that would be mandated with finding $1.5 trillion in spending cuts. If the committee fails to find that amount, there would be an automatic trigger chopping $1.2 trillion. The budget office used the smaller figure to reach the $2.1 trillion total.
Lawmakers from both parties expressed scorn on Monday for a central feature of the deficit-reduction deal that creates a powerful 12-member committee of Congress to recommend major changes in entitlement programs and the tax code. ...
Who do you think would be mostly to blame if the Committee and the President are not able to agree on a plan to reduce the deficit, President Obama and the Democrats in Congress, or the Republicans in Congress?[permanent dead link]
Members of the panel, the Joint Select Committee on Deficit Reduction, will be named within two weeks and will have until Nov. 23 to recommend cuts. If it fails to reach agreement or if Congress and the president kill its recommendations, $1.2 trillion in cuts would be implemented automatically.
If the supercommittee does not agree on a deficit reduction plan, do you think that the Democrats in Congress or the Republicans in Congress would be more responsible for that?
Congressional leaders haven't picked the 12 members of the uniquely powerful "super-committee" that will recommend $1.5 trillion in spending cuts to reduce the deficit, but watchdog groups want to limit the influence of industry lobbyists on their work.
Congressional leaders say this panel has a better chance than many of its predecessors because the debt deal creates a strong incentive for bipartisan agreement: If the committee fails to agree or to win approval for a plan from the House and the Senate, the government will automatically cut at least $1.2 trillion over 10 years from hundreds of military and nonmilitary programs.
No. It's a punt. I mean, it's one more occasion where Congress has basically punted, kicked the can down the road, use what metaphor you want. It cuts $21 billion out of the 2012 budget, which is the only budget over which this Congress actually has any authority.
The Budget Control Act says: "The goal of the joint committee shall be to reduce the deficit by at least $1.5 trillion over the period of fiscal years 2012 to 2021." It also says that the Congressional Budget Office shall provide estimates of the impact of the committee's proposal s that are based on current law, and, under current law, all the Bush tax cuts expire at the end of 2012.
