Site for Free Markets and Free People

Monday, November 21, 2011

Supercommittee "Success" Would Have Been Failure Anyway

Oh no, the Supercommittee "failed." The whole goal of the committee was absurd. Under the CBO baseline, thanks to Obama's increased spending over the past three years, was projected to be approximately $50 trillion in spending over the next decade, with an additional $9 trillion in debt.

The committee was arguing about how to narrow the deficit by $1.2 trillion. So even if it were ALL spending cuts, which the Democrats adamantly refused, that would have reduced spending from $50 trillion to $48.8 trillion over the next decade. And that was a bridge too far for them. But the GOP said they would reduce spending by only half to $49.4 trillion and increase revenue by the other $600 billion. That was still too much for the Dems.

Frankly, a successful outcome would have been a sham anyway.