Super Committee Shenanigans?
The Super Committee, tasked with finding at least $1.2 trillion in deficit reduction over the next ten years, just held its fifth public meeting yesterday. Unfortunately, the meeting was just to present the current plans being discussed, one from Democrats (who want to reduce the deficit mostly through tax hikes and minor spending cuts) and the other from Republicans (who want to reduce the deficit through spending cuts and entitlement reform).
The public hearing raised an odd question, however. The Congressional Budget Office (CBO) has said that it will need several weeks to score any proposed plan from the Super Committee. This puts the deadline for an actual proposal at the end of this week or early next week in order for the proposal to be scored by November 23, when the committee is to present its plan to Congress.
If that’s the true deadline, and no one from the committee has voiced any concern regarding making that date, do they have a plan they haven’t released yet? Is the current discussion of the opposing plans simply a diversion? Or is this committee as doomed as everyone thought it would be from the onset?