There is now less than a month remaining until the so-called “Super Committee” must reveal its plan to eliminate $1.2 trillion from the federal deficit over the next ten years.
If it fails to produce such a plan, or if Congress or President Barack Obama rejects it, it will lead to a budgetary and national security disaster. Under this incredibly risky scheme, over a trillion dollars will be cut from defense and domestic spending budgets automatically if the closed-door “Super Committee” cannot agree on a deficit reduction package. If Congress fails to pass whatever proposal these twelve select members of Congress come up with—no matter how bad it is—the same automatic cuts go into effect.
They better have a good plan.
keyboard shortcuts: V vote up article J next comment K previous comment