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Deficit panel down; time almost up
The congressional deficit-reduction committee appeared on the brink of failure late Sunday, as Democrats and Republicans offered little chance that a deal could be reached in time for a Monday night deadline and spent the day blaming the other party for the impasse.
Rep. Jeb Hensarling, Texas Republican and co-chairman of the supercommittee, said that while the dozen-member bipartisan panel doesn’t want to give up hope of reaching a deal, “reality is, to some extent, starting to overtake hope.”
“There were 12 good people who invested a lot in this, trying to find a common ground to achieve the goals of this committee,” the congressman said on “Fox News Sunday.” “So talks have taken place over the weekend; they will continue to take place, but the reality is we need to come to an agreement.”
The secretive deficit panel has negotiated almost exclusively in private since first meeting in early September. No full committee gatherings were scheduled Sunday, with party members instead talking among themselves in a negotiating process that some have characterized as “shuttle diplomacy.”
Sen. Patty Murray of Washington, the panel’s Democratic co-chairwoman, said Republican insistence on extending the expiring Bush-era tax cuts has been a deal-breaker.
“That line in the sand, we haven’t seen any Republicans willing to cross yet,” Mrs. Murray said Sunday on CNN’s “State of the Union.” “I remain hopeful that someone on the other side will say this is too important to fail.”
But Sen. Jon Kyl of Arizona, a Republican supercommittee member, said letting the Bush tax cuts expire would harm the overall economy and do little to make a dent in the nation’s $15 trillion debt.
“If you really want to get serious about the deficit, our country has to grow economically,” Mr. Kyl said on NBC’s “Meet the Press.” “We have to put people back to work. That’s what creates wealth that can be taxed.”
The supercommittee - a compromise resulting from summer’s hard-fought deal to raise the debt ceiling - has until Wednesday night to vote on a plan to lower federal budget deficits by $1.5 trillion over the next 10 years. But, because the bipartisan Congressional Budget Office by law must have an analysis of the proposal ready 48 hours beforehand, the real deadline for a deal is the end of Monday.
Sen. Patrick J. Toomey, a Pennsylvania Republican and deficit panel member, said that it will be difficult to reach a deal with so little time left.
“It’s been enormously frustrating for me and for many of my colleagues. As I said, we’ve got 12 good people that worked hard on this,” Mr. Toomey said on CBS’ “Face the Nation.”
“But on the [Democratic] side, there was an insistence that we have a trillion-dollar tax increase. There was an unwillingness to cut any kind of spending at all unless there was a huge tax increase.”
“Our Democratic friends are unable to cut even a dollar in spending without saying it has to be accompanied by tax increases,” he said. “I think that tells you all you need to know about our runaway spending.”
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Sean Lengell covers Congress and national politics and can be reached at firstname.lastname@example.org.
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