Super Committee

The Impotent super committee fails to perform

The Impotent super committee fails to perform

By Albert N. Milliron Already blame is being cast on one another in the Super Committee.  A group of 6 Republicans and 6 Democrats from the House and Senate charged with cutting a mere 1.5 Trillion from the debt.  With the National Debt at 15 Trillion, 150 Billion a year is a drop in the bucket. One can only infer that the committee was set up to fail and “Kick [...]

Polls: Congress Job Approval Record Low of 13%, Super Committee will Fail

Polls: Congress Job Approval Record Low of 13%, Super Committee will Fail

by Albert N. Milliron One year before the 2012 election, Congressional Job approval remains at all time lows.  Gallup who tracks approval ratings for Congress show a graph that contains approval ratings for 2011.  Had one gone back to 2009, following the Healthcare bill and the Stimulus package, approval ratings were at 13% as well despite the Former Speaker going on the Daily Show and declaring that the good ole [...]

Super Committee to big to Fail? Nope, Nada, Nyet – Set up to Fail? You Betcha

Super Committee to big to Fail? Nope, Nada, Nyet – Set up to Fail? You Betcha

There is some speculation that the White House wants the Super Committee to fail so that the President can continue his Campaign stump speech  that the Congress is a “Do Nothing” entity and “we can’t wait” for them to act.  The Presidents entire effort to get re-elected is that he says he will act without Congress from the executive branch. Senate Minority Leader Mitch McConnell, R-KY., today suggested that the [...]

Analyst Prediction: Another US Debt Downgrade Is Coming In Just A Few Weeks.  Who will Obama blame this one on?

Analyst Prediction: Another US Debt Downgrade Is Coming In Just A Few Weeks. Who will Obama blame this one on?

In an analyst note, Bofa/ML Ethan S. Harris drops a bit of a bombshell prediction: We expect a moderate slowdown in the beginning of next year, as two small policy shocks—another debt downgrade and fiscal tightening—hit the economy. The “not-so-super” Deficit Commission is very unlikely to come up with a credible deficit-reduction plan. The committee is more divided than the overall Congress. Since the fall-back plan is sharp cuts in [...]