The congressional deficit reduction supercommittee faces a Wednesday deadline to reach an agreement on reducing the deficit. If the panel does not reach a deal, $1.2 trillion will automatically be cut from defense and domestic spending in 2013. We look at the politics behind the deliberations.

Guests:
Felicia Sonmez, reporter for The Washington Post
Allen Sinai, chief global economist and strategist for Decision Economics Inc.
Jake Sherman, congressional reporter for POLITICO
Anna Eshoo, congresswoman, U.S. House of Representatives - Representing the 14th Congressional District - contains portions of San Mateo, Santa Clara and Santa Cruz counties
Dan Lungren, member, U.S. House of Representatives - Republican Congressman representing California's 3rd District.

  • Greg Slater

    We’re spending a billion a day on self-destructive, pointless, and morally bankrupt imperial military occupations around the world.  Withdraw the military from Afghanistan, withdraw from Pakistan, withdraw (really withdraw) from Iraq, withdraw from Australia!.  It’s insane! Withdraw from all the other occupations.  Demilitarize the US.  Then we’ll talk about cutting useful services and infrastructure projects (useful things!) for American citizens.  But not before!

  • Greg Slater

    Blame is NOT freaking ‘across the board!’

    How come everyone in the media is so gutless about naming the terrorists in this?  The repubs!  The dems are sickening in the way they cave to terrorist repubs.  While the repub terrorists take any compromise and then demand more?  where are the compromises from the terrorist repubs?

    No freaking negotiations with terrorists!  fight them!  fight them!  fight them!  Drive the stinking repubs into the sea, so we can have a rational country and policies!

    Repubs are terrorists!  it’s an obvious fact that no one will admit.  Please discuss insane repub terrorism with your guests!

     – greg

  • dean liman

    Did any of your guests happen to catch the 60 Minutes (disturbing) piece on Grover Norquist?  Talk about ideologues!

          http://www.cbsnews.com/video/watch/?id=7389006n&tag=contentMain;cbsCarousel

  • Bob

    I don’t recall the tax rates under Clinton to be horribly onerous.  I’m increasingly leaning to letting all the Bush tax cuts expire across the board.  It will raise my taxes, but that’s responsibility. 

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  • Kathleen31

    Why did you let Dan Lundgren slip around your question about the Bush tax cuts? Why did you let the Washington Post reporter pull that “both sides are to blame” nonsense? No matter how culpable — and pathetic — the Democrats are in the current situation, the blame is clear, and the solution is obvious. Let the Bush tax cuts expire!!! 

  • Jim

    The comparison with Canada is simply not apt, in that the two countries are coming at the situation from two very different starting points:  Canada has a much greater social safety net than does the US, so it makes sense that it would cut into that net to a greater extent, relatively speaking, than the US.

  • Dave (Pittsburgh)

    There seems to be a disconnect here that is common to this deficit debate.

    Isn’t the reason markets will fall if these cuts go through primarily because the markets are looking for government to undertake impactful economic stimulus, rather than any fear of the long-term deficit? If this were primarily a deficit problem, why would markets be pushing down Treasury rates to negative yields?

    This general “leadership failure” talking point ignores that the Republicans — by refusing to support stimulative economic policies like extended unemployment insurance — are the real source of markets’ misgivings.

    A party opposed to government will always benefit by making government appear dysfunctional. Claiming equal culpability is irresponsible.

  • Mason

    We need both term limits and a major reduction in salary for Congress. Let them take minimum wage with tracking on their expenses to remind them that serving in Congress is an HONOR and that they work for the people.

    • Mason

      It’d also make it easy to see which lobbyists are paying which crooked politicians. And that’s across the board for -all- of them.

  • Linda

    I still would like to know who died and made Grover Norquist emperor. Why should he have so much power? It defies rationality–but then so does much of what the Republicans do.

  • Chrisco

    It is amazing how unwilling Republicans are to compromise, especially considering their culpability in creating the deficit. They just want it all and they seem to get it. Now they are talking about undoing cuts in their favorite (bloated) spending program: the US military. And it seems likely they will get this.

    They don’t believe in balanced budgets or deficit cutting. They just believe in tax cuts and funding their own pet government programs. Their alleged deficit hawk-ness is just a cover to slash social programs they are politically opposed to. And that’s a fact!

    THEY ARE 99% RESPONSIBLE FOR OUR CURRENT DEFICIT ISSUES and they PLAY THE SAVIORS (and victim when possible). It all started in 2001 and culminated in the economic collapse of 2008.

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