President Obama and congressional leaders traded blame on who is at fault for not reaching a deficit reduction deal. Many political pundits and experts believed that the super committee from its very conception was doomed to fail. They didn’t think that the two parties are able to work together in this Congress, and reach a compromise and agreement.

The American citizen feels that there is no leadership from either party, and the economy is in a precarious situation. As the two parties draw a line in the sand, we can expect more fighting and more finger-pointing. In 2012, the fight will be over job creation, healthcare, immigration, taxes, military spending, housing market, debt, and the deficit.

It appears the more the two parties fight, both sides think they will win, and benefit politically and substantively. They would rather fight and look foolish to the world, and the American people. The nature of democracy is to compromise, but in our Congress in 2011, the nature of the legislators is to remain stubborn.

The co-chairs of the bipartisan special joint committee said in a statement 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.”

This was a very difficult task but I was speculating that this committee would be successful. This super committee was charged with the responsibility to find $1.2 trillion in spending reductions and deficit reductions measures.  There were 6 members from each party and together they would agree on cuts and negotiate a plan to present to the public and Congress.

Many believe at the center of this dispute is a conservative activist Grover Norquist, and author of a popular GOP campaign pledge never to raise taxes. There are many Republicans across the country and in Congress, who have taken the pledge and refuse to raise taxes. He is also the head of a conservative group, Americans for Tax Reform, and many Republicans refuse to disagree with this organization.

There are 95% of Republicans in the Senate and House, who have signed the pledge. This pledge is a sacred covenant for virtually anyone wishing to run as a Republican, and it is a clearinghouse for conservative ideas.

President Obama is placing the blame on the Republicans, because they rejected a balanced approach to deficit reduction that included tax increases on the wealthy. “Despite broad agreement that exists for such an approach, there are still too many Republicans in Congress that have refused to listen to the voices of reason and compromise that are coming from outside of Washington,” said President Obama.

All of the legislators on both sides of the fence are discussed with the super committee, because many thought it had a task that was achievable. Republican Senator Bob Corker of Tennessee said, “It is nothing short of an embarrassment, an absolute national disgrace, and failure of leadership that we cannot agree on even a paltry $1.2 trillion in deficit reductions.”

Since the super committee did not reach an agreement, there will be automatic cuts of $1.2 trillion over the next year. They are heavily focused toward defense and there is no clear planning on how they will be implemented. There is no planning on the expiration on the Bush tax cuts, which will raise rates on all Americans in 2013.

The two parties can continue to fight and not agree on anything, and blame each other. But logically it would make more sense to compromise and get our fiscal house in order.  

 

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