The recent debt ceiling negotiation wrestling match resulted in the United States losing its AAA credit rating and also resulted in the creation of a new committee. The Joint Select Committee on Deficit Reduction, also known as the Supercommittee or Super Congress, was created by the Budget Control Act of 2011 on August 2.
Ivan Eland: The good news is that if the committee can’t reach an agreement on the fiscal changes, or if Congress rejects its work, defense (including homeland security) and domestic programs have to take equal cuts.
Mark Naison: It behooves us, as progressive organizers and justice fighters, to keep the lines of communication open to people in these organizations, and be there to work with them if they join us in resistance to policies that concentrate economic sacrifice amongst America’s poor.
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.
Rebecca Griffin: Depending on whom you ask, the Pentagon either got a free ride or the deal decimates the military budget. Given the leverage that Republicans had in this debate, it’s not surprising that the Pentagon got off easy in the first round of cuts.
Robert Reich: Now that we’re slouching toward a double-dip recession, the only hope is voters will tell their members of Congress to stop obsessing about future budget deficits and get to work on the real crisis of unemployment, falling wages, and no growth.
Joseph Palermo: The last-minute lobbying by the titans of industry and finance shows that President Obama might have had more leverage over the Republicans in the debt ceiling “negotiations” than he chose to exercise. We now breathlessly await the arrival of the “Super Committee,” the tragedy that follows the farce.
Carl Bloice: If the people who set the Tea Party in motion and sustain it want a mandatory “balanced budget” there is a democratic way of going about getting one; introduce specific legislation. They wouldn’t take that route.
Stanley Kutler: Our problems with governance lie far beyond the character of Obama, or with the Lilliputians who run Congress. Our “leaders” will not lead; worse yet, they refuse to honestly confront the nation’s interest or needs.
Walter Brasch: Since you like hunting, and they like hunting, your banker friends will let you buy all the guns and ammunition you want. But, they can’t help you on your health bills, or even lower the insurance premiums and co-pays. And, they can’t do much for that inflated mortgage payment. Or to help you find another job.
Lucia Brawley: Polls showed a majority of Americans wanted Obama to compromise more. He did. In the election, no one can say he is the unreasonable one.
Tom Hayden: Launch a campaign progressive to the core, with no compromises on ending tax cuts for the rich and trillion-dollar wars.
Ted Vaill: Seventy or eighty arch-conservative Tea Party members of the House and Senate have held this country hostage to their right-wing demands that we sacrifice entitlements belonging to ordinary, hard working Americans for the benefit of their rich friends. What is the mood of the ordinary American? Disgust.