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Nov 23 2011

No, There Isn’t “Blame to Go Around”!

The blame for the failure of the deficit “Supercommittee” to reach agreement on a long term plan for fiscal sanity can be placed squarely at the door of its Republican members.  Anyone who levels an ounce of blame on the committee’s Democrats or the President are delusional at best and liars at worst.  The President has always indicated his desire for a balanced plan of spending cuts and revenue increases.  The supercommittee’s Democrats offered significant cuts to entitlement programs in exchange for minimal revenue increases through the closing of tax-loopholes and an end to the Bush tax cuts.  To a person, the Republicans balked, partly because of an intransigent allegiance to a bankrupt ideology and partly out of fear of the electoral retribution they would suffer from their Faustian bargain with the “no tax increase ever” demagogue Grover Norquist and his vigilante organization Americans for Tax Reform.  Understand this.  There was no reason for this Supercommittee in the first place except as yet another presidential bow to Congressional Republicans.  Thoughtful, workable, and truly bipartisan plans already existed in the plans offered by the Bowles-Simpson and Domenici-Rivlin commissions.  Unfortunately,  both of these plans, while proposing significant and, to some, excessive spending cuts, also proposed significant increases in tax revenues.  The latter, of course, was the proverbial “nail in the coffin”.  I’ve been reading and hearing in the various news media about the disgust Americans harbor against the failure of our lawmakers to get things done.  Well, for this last debacle, there is one and only one group towards which the disgust should be directed—Congressional Republicans.               

0 comments - Posted by Ernest Zampelli at 2:12 PM - Categories: Economy | Government & Civil Society