LOL!! This entire "Disaster" was invented by congress for nothing more than political gamesmanship. They can simply ignore the deadline if they don't make any decisions since there is no enforcement mechanism.
It's like saying you want to go running 5 times a week and if you don't you're not going to take a vacation in 6 months. The six months comes up, you never did any running and you still take your vacation.
Seriously, there is zero mechanism to enforce this threat.
I'll believe she's sincere, but I also believe that you can't swim against the stream of political influence for very long. We liberals have grown so pessimistic.
For fuck's sake: Taxes on _MONEY_ earned over or under some amount. People and businesses on this tax schedule, are only impacted in so far as they earn the relevant amounts, and the rich will still have the lower rates on their first umpty-thousand bucks.
@7 This was the biggest disappointment for me, that I feel they won't follow through...Trust in our government is terribly low and this will just sink it lower.
@7 I haven't looked at the details, but do you need a "mechanism" in the case of the expiring tax cuts? I was under the impression that the previously passed law says that the rates go back up on the expiration date as specified in the bill they voted on whenever. Correct me if I'm wrong.
The SPENDING cuts, OTOH...they can write any fucking budget they want next year, eh?
@6: in fact, as the leader of the supercommittee, patty murray HAS considered spending less. and that's just what's going to happen - to the military. and much to the displeasure of the GOP numbnuts in the Clown Congress WHO AGREED TO THE DEAL.
Why not? Either Obama wins and the Dems can be bold; or Rmoney wins and the Dems can play the opposition. Sure it is cynical and possibly bad for the economy, but thatd be Rmoney's problem.
It's like saying you want to go running 5 times a week and if you don't you're not going to take a vacation in 6 months. The six months comes up, you never did any running and you still take your vacation.
Seriously, there is zero mechanism to enforce this threat.
The SPENDING cuts, OTOH...they can write any fucking budget they want next year, eh?
And when was the last time the Senate passed a budget resolution?
About time the tax giveaways ended.
but you knew that.