deficitscenario.jpg

I'm not sure where all this wailing and gnashing of teeth is coming from over the congressional "super committee's" failure to come to a budget agreement, when by failing to agree, the members actually succeeded in achieving the super committee's stated mandate: slashing future deficits to just about zero.

Forget all those automatic cuts that are slated to go into effect in 2013. If Congress can just continue to wisely do nothing about the budget, the Bush tax cuts will automatically expire at the end of 2012, spinning the budget almost perfectly into balance. Honestly, look at the CBO chart above. It's like the invisible fucking hand of God.

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Now, I'm not saying that there aren't spending cuts that should be made, and I wouldn't mind offsetting those by handing some tax savings to lower- and middle-income families, but again, if Congress could just do nothing, the deficit will virtually disappear. Problem solved.

So congratulations to the super committee for a super job not done.