By Fareed Zakaria, CNN
Many are bemoaning the super committee’s failure, but I actually don’t see it as such a big deal. Those who are concerned about the budget deficit will see an automatic $1.2 trillion in cuts over the next decade starting at the end of next year. That’s more than anyone thought we’d get beforehand. And those who want tax revenues to increase will see the Bush tax cuts automatically expire at the end of 2012.
So if Congress does nothing, two sequestration processes go into effect: A budget cut and a tax increase. These two measures will cut over $4.5 trillion from the U.S. deficit over the next 10 years. That’s more than the Simpson-Bowles Commission proposed. And as Ezra Klein points out, that’s $3 of tax increases for every dollar of spending cuts. The Republicans' strategy of blocking every deal suddenly doesn’t look so smart.
I think that the real question we should be asking ourselves is whether or not we want these tightening, contractionary measures to occur now when the U.S. economy is still relatively weak. Better policy would be to delay the onset of cuts for a year or two until the economy begins to recover. As long as we can signal to the world, to markets and to ourselves that we have a serious, reliable process in place to deal with the deficit, there’s no immediate urgency.
As for the much-feared defense cuts – the $600 to $700 billion that will be whittled away from the Defense Department over the next 10 years - I don’t feel that this is as draconian as people think. Remember, we’re talking about cuts from an extraordinarily high starting point. As I noted in a Washington Post column back in August, the Pentagon’s budget has risen for 13 years, which is unprecedented.
Between 2001 and 2009, overall spending on defense rose from $412 billion to $699 billion, a 70 percent increase, which is larger than in any comparable period since the Korean War. And over the past decade, U.S. defense spending has gone from about a third of total worldwide spending to nearly 50 percent. In other words, we spend more on defense than almost all the planet’s remaining countries put together. So the fact that we’re going to go down from these peaks over a ten-year period does not worry me so much.
It’s also worth pointing that there is enormous waste in the Pentagon. Most talk of waste, fraud and abuse in government is vastly exaggerated; there simply isn’t enough money in discretionary spending. Most of the federal government’s spending is transfer payments and tax expenditures, which are — whatever their merits — highly efficient at funneling money to their beneficiaries. The exception is defense. There is so much overlap among the military services, so much duplication and so much waste that no one bothers to defend it anymore.
So even though people say the failure of the super committee is a sign that nothing will ever get done on the budget issue, the fact is that the exact opposite is true. Congress could have, of course, done much better. The upcoming cuts are not finely targeted or well-timed. But maybe that’s how American democracy is working right now. And until Congress can agree on a better plan, we can at least be thankful that by doing nothing our political leaders can accomplish quite a lot.
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I believe these measures will have relatively little effect on the economy. The US consumer that can afford to pay taxes is in major "pay down debt mode". This will only slow the pay down of their personal debt. It will do little to curtail their spending habits. Let the tax cuts expire!
Our do nothing congress needs to be release back to the wild. They have overstayed their welcome and do not represent the US people. We need terms limits with a max of two terms and no retirement. This will stop and avoid the payolea from the wealthy and the lobbyist. What a waste of bodies in congress,,,,,
or better yet, give each person from each district a chance to share in the decision making. each person in each district should be given a chance to represent their district. much like jury duty. each person would be selected at random, but no, one person can serve twice in one year. sure it would be a bit starnge at first and kinks will need to be ironed out. But, the power would truly be back in the peoples hands.
Term limit is a good idea! These unlimited 6-year terms in the Senate and the unlimited 2-year terms in the House of Representatives mean an obstruction of fresh air wafting through the Congress. I have respect for old people, but I don't expect someone beyond 80 could carry a work burden as one who's half the age.
You got it ALL the way right
Term limits and no retirement. Congress will be made up of ignorant amateurs there for a short time. Corporations will have an easier time getting their candidates elected, and with such a short time to capitalize, the representatives will still get while the gettin' is good.
you are spot on dude! perfect plan. now how do we put it in place?
When did this guy Fared become the last word on the economy, or anything else by the way? This was a giant failure of the politcal system in this country. The rich have to pay up, (no more incentives to buy Hummers-the most unintelligent vehicle ever conceive–."Read penis envy" ) Americans have to acknowlege the party is over and suck it up. I am 57 years old and just got laid off by a hospital (outsourced by the way). I hope to grt another job but apparenty Neet Gingrich wants to give it to a 9 year old black kid to restore his dignity of work. What ever happened to childhood? IsChina running us now?
Fareed Zakaria says: "Many are bemoaning the super committee’s failure, but I actually don’t see it as such a big deal" of course not because you are an anti-American bstrd.
You don't agree with someone so they must be (favorite ad hominem here). How mature!
Term limits for EXECUTIVE office might make sense and prevent despotism in mayors, governors and the oval office ... BUT ... term limits for legislators are anti-democratic and un-American in the extreme. If the people of one district or one state want the representation of any individual, they should have the right to be able to elect and reelect that person indefinitely. Americans should and must become responsible for who WE put into office, and who WE elect out of office. We should never create a law that in effect tells us, "Stop me before I vote for this person again!" ... and that is what term limits do. If the electorate feel that a Senator or Congressman is too old, or has ceased to effectively legislate on their behalf, we already HAVE a method to limit their terms. It's called VOTING THEM OUT OF OFFICE. Period.
The Republicans are stubborn bratty old farts... anytime a Republican gets on tv and doesn't make any concrete solutions other than making Obama a one term president you should really think how are they helping the Here and Now... saying "No" to everything is not helping anyone- oops they earn $175K they could care less about anyone earning less than them
They are in control but again what have Republicans accomplished other than road blocks for the president.
I will give President Obama another term knucklehead Bush was re-elected look what he gave US so I am giving Obama more time to clean up what Bush/Republicans created.
Don't hold your breath on the Bush tax cut expiration. They can always renew it again. It'll be a big election year topic I'm sure, and the billionaires will be dumping plenty of money into elections.
Yeah, to tell YOU how to vote. It kills me that people talk about the big money behind certain candidates. Do the voters see any of that money? Then why does it influence who YOU want in a certain office?
I've just never gotten it...
So will OWS
you forget obama extended the tax cuts, they belong to him now, the obama tax cuts.
you forget that the GOP congress held unemployment benefits hostage in exchange for the cuts.
your talking about the 99 weeks of unemployment?? ya that is a problem, encourages people not to work.
ah yes, more Rupiblitea F.E.A.R. Chatter, gotta love the party of Me, Myself and I
F.E.A.R. = False Evidence Appearing Real
Yeah, because being unemployed for more than 99 weeks collecting a fraction of your previous salary from unemployment is everyone's dream.
no we didn't forget, the republican tea-rrorists held the middleclass hostage again to get tax cuts for their corporate wealthy bosses.
Yes, because when there are 5 resumes for every job, unemployment benefits make people not want to work. Has it occurred to you that for many people, there ARE NO JOBS?
Then let the Bush-Obama tax cuts expire... Call them whatever you want, just get rid of 'em
I don't know how it is in all states but in Washington, you have to keep a log of all jobs you applied to, and the states checks up on it and makes sure you made a serious attempt to find work and you have to contact several businesses each week to get your check. They sometimes call the place you applied to to see if you really showed up. They can cancel your unemployment is you haven't looked or deliberatly made a poor impression and could ask for a refund.
Wow... how sadly misinformed... I can only assume you get your “opinions” purported as “facts” from the Democratic Party Talking Points. Take the time to do you own research, use the US Government’s own website (.gov); US Treasury, CBO, GAO, IRS, HHS, HUD, etc… They publish the FACTS, politicians (both Dems and Repubs) spin the facts to bolster their positions and put out their “talking points”. Stop being a lazy American and do your own homework before “parroting” your party’s talking points. After some truthful research, I feel you will be sadly disappointed by the lies you have been told and have been repeating.
ironically, Bob got all his talking points from Rush. Both parties are messed up, but the party of "no" is clearly out to do one thing, one term president Obama and preserve their wealth. Give me some real examples of GOP helping the common man? All i have heard is "trickle down" economics (which are proven not to work).
The sadly misinformed are are Faux News
I love it how the supposedly ultra educated (LMAO) Liberals are consistently the most uninformed group out there...
It's non-stop talking points with a smattering of insults
Okay, unzipped, I'll bite. Let's suppose the liberals really are the ones who are wrong.
If so, explain how the GOP is *actually* helping the economy. Give SPECIFIC details. I won't pretend to be a genius at economics, but most of the electorate on BOTH sides of the aisle lacks economic sense. So... explain it to us. Use examples of bills and measures passed to help the economy, and explain how those measures have actually benefitted the United States (remember, the economy is *still* bad, so you will have to justify why those measures failed).
I'm serious - show me examples of real GOP work on the economy and I will believe you. Otherwise, you are just using sound bites instead of facts.
Edwin, Unzipped cannot say anything, you and I both know that there are NO FACTS! Unzipped is just one of those "say the comments and run back to the haven of Fauz News so he can get another intelligent quip from the curvy couch"
And you get your "FACTS" from U.S.gov. websites and call your self informed?Example#1 inflation! gov. figures exclude oil products and food.Is that because we don't buy them?No it is to spin the numbers and inform us about conditions that are a false representation of our very lives.If you want to be informed Read "When corporations rule the world" by David Korten .This is a must read and should be required in every high school in America
Bush was warned about toxic loans, his tax cuts, banking problems and the housing bubble by his first two Secretaries of the Treasury...he fired both. He spent 2/3 of his time as President out of the White House. He inherited a budget surplu of $240 billion from Clinton and handed Obama a $1.2 trillion deficit. He deliberatly kept the wars in Iraq (which was to punish them because they had embarresed his Dad (he was discussing attacking Iraq as soon as he was sworn in, long before 9/11). The Harvard Medical School published a study in 2009 on the impact of lack of health insurance and it caused almost 50,000 American deaths a year. Since 9/11 al Quada has killed 3,000 innocent American mwn, women, and children here in America, the Republicans a staggering 500,000. We are fighting a war against the wrong enemy.
OOPS corrected version:
Bush was warned about toxic loans, his tax cuts, banking problems and the housing bubble by his first two Secretaries of the Treasury...he fired both. He spent 2/3 of his time as President out of the White House. He inherited a budget surplu of $240 billion from Clinton and handed Obama a $1.2 trillion deficit. He deliberatly kept the wars in Iraq (which was to punish them because they had embarresed his Dad, he was discussing attacking Iraq as soon as he was sworn in, long before 9/11) as "off budget" so it would look like the deficits were smaller (it was his brain that was smaller.. The Harvard Medical School published a study in 2009 on the impact of lack of health insurance and it caused almost 50,000 American deaths a year. Since 9/11 al Quada has killed 3,000 innocent American mwn, women, and children here in America, the Republicans a staggering 500,000. And they call themselves Christian????????????? We are fighting a war against the wrong enemy. What ever happened to "inalienable rights of life" as talked about in the Declaration of Independence or is that so much trash to the Republicans??
Who are you talking to, Bob? Fareed? Is he even a Democrat? He used to hang out with William Buckley. And calling something a "Democratic talking point" is just name-calling; either address the content of what's said, or you're just putting out hot air.
Joe, a stubborn, bratty old fart usually means common sense, maturity and wisdom as opposed to people like yourself who are naive, ignorant & self righteous & trying desperately to defend why they elected the most inexperienced candidate in the history of the world.
Why do you claim Obama is the most inexperienced candidate in the world? Have you no understanding of U.S. history? LOTS of prior candidates had practically no government experience at all. Some crashed and burned, and some did quite well.
BTW, when you make claims like that which are easily shown to be false, you do not enhance your credibility...
In the history of the world? LoL and your trying to come across as wise? Try again.
this guy thinks cain and bachman would make a better president.anybody else want to see these two have the power to destroy the world at the touch of a button?
That candidate was G.W. Bush and all the B.S. will never hide that from history
Most of Congress are Millionaires and they aren't about to raise their own taxes.
Yeah, I really like being represented by a bunch of millionaires who do not even fall under the same social security and medicare plans that the rest of us poor fools do. By the way, these same milliomaires are the ones who stood by while corporations GAVE ABOUT 14 MILLION OF OUR JOBS AWAY over these past 30 years. Thanks – for nothing.
Well put Joe. I have seen nothing but good come from having Obama in office. His track record on delivering what he promised is far better than most I can remember. These republican clowns are damaging the nation with their inability to compromise and this "no increase in tax deal" they have made with the devil is going to cost them votes. I have always tried to vote based on individual strength regardless of party but it is clear that just won't work anymore. We must give one party the power or NOTHING will get done. I won't vote for ANY republican because they have signed away their ability to think and act for the good of the country.
i will never vote republican again, and i will vote. they have shown their true colors over the last 30 years, and they do not represent the american people.
how is that transparancy in government promise workin' out for ya?......lol......he also promised troops out of iraq within 2 or 3 months of inauguration....not 3 years.....
Bush had some issues, Obama has some issues. No presidential administration has ever had a clear run (except maybe Washington, but then there's the whole Whiskey Rebellion and all that).
Bush had problems with Iraq, did what he could. Obama has problems with health care, he does what he can. I don't agree with either, but I respect their position. Whatever they have done, they are our elected leaders and deserve repect.
Gotta love it.
"Bush had his issues with Iraq"
The guy went to war with the WRONG ENEMY, costing trillions of dollars and hundreds of thousand of lives and making America an international embarrassment.
How much bigger of a screw up is possible than that?
Pretty hard to put the blame on just one party here. They both act like kids.
This is exactly what I thought after the supercommittee's purported "failure." By default, we've gotten more draconian measures that anyone in Congress would have had courage to do by design. Moreover, the default result is not driven by absurd political fantasies.
Draconian??? I hardly think so. The "massive" cuts to defense are probably the best thing to happen to the American people in decades. Now – the DoD will have to squeeze those contractors for price cuts. This means that maybe the DoD will only pay $8 per gallon of fuel instead of the $11 per gallon of fuel that they pay now. In fact, it may be much more than that....the DoD doesn't even know how much they spend per gallon of fuel. Don't believe me – check this out: http://www.nationaldefensemagazine.org/archive/2010/April/Pages/HowMuchforaGallonofGas.aspx
Whatever it is, the shoddy accounting at the Pentagon has to end. And the best way to make that happen is to force them to stretch their pennies.
You do realize that contractor funding comes from a different set of money right? While I do agree, contractors are being paid obscene amount of money here in Afghanistan but cutting the Defense budget across the board will directly affect the boots on ground. Which has its pros and cons. Looking just at the waste in one sector is silly. Look at some of the waste in Congress and you will be amazed.
Where's my post-Cold War peace dividend? Still holding my breath...
Read your own article, it says flat out that they pay $2.82 per gallon of gas, the part they try to figure out come from getting that gas where it is needed. They have to pay for the airplanes for arial refueling, trucks and gaurd vehicles to get it to forward deployed units and so on. The cost you are talking about is not for the fuel but the delivery cost which can vary with every delivery even if you use the same method due to cost difference in vehicle/manpower use. Having 3 E-2's guarding a truck one day? That manpowere cost so much per hour. Next day you send out 2 E-2's and an
E-3 because someone is sick or something... manpower cost for guarding that truck just went up.
I agree that they could cut some of the cost in defense, as a retired Marine I have seen all kinds of things that could be changed, but your post is misleading.
We had a post-Cold War peace dividend, then it was given away in the Bush tax cuts and the unfunded Iraq War.
Draconian? What a laugh. $4 trillion over 10 years? Big deal. The current budget course sets us up for $14 trillion in deficits over the same period. These farcical half-measures are exactly what the Republicans in the House object to, rightly so.
And, our president has promised to veto any measures to back off the trigger cuts.
Dixie go research what you just said. YOU ARE WRONG. he is veto'ing anything Congress tries to pass that eliminates the cuts to the defense department .*SLAPS HEAD** Do some reading woman!
No, Adam, you're wrong. Here is the president's statement:
"One way or another, we will be trimming the deficit by a total of at least $2.2 trillion over the next 10 years. That’s going to happen, one way or another. We’ve got $1 trillion locked in, and either Congress comes up with $1.2 trillion, which so far they’ve failed to do, or the sequester kicks in and these automatic spending cuts will occur that bring in an additional $1.2 trillion in deficit reduction. My message to them is simple: No. I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending. There will be no easy off ramps on this one."
The president has subsequently reiterated his intention to allow trigger cuts by way of a veto to both domestic spending and defense spending, absent equivalent or greater cuts to both by Congress.
Slapping your head and making misogynistic remarks makes you look pretty stupid now, doesn't it? Perhaps you should get off your parents computer and go to bed now ...
Awesome post, Tex. But a little reality: Obama has a history of caving in to GOP demands. He starts off talking strong, then does a secret deal to give them everything they want, in exchange for a small concession. I hope against hope he can stay strong on this one, but I do not really expect he will follow through.
Then again, I think the Senate AND House have to agree on this, right? If so, there is little chance the legislative branch will actually pass *any* measure to avoid the cuts - the two branches won't agree on how to do it!
the president has made compromise after compromise with these republicans,for three years now,and hes been stabed in the back every time. i think that he got the message. the only thing they have been honest about, is "making him a one term president".
Defense cuts and expiring Bush-era tax cuts are good developments but what about unemployment insurance, the annual AMT 'patch', expiring business tax breaks, and government funding? The 'do nothing', 9%-approval-rating Congress still has to vote on these issues before they wrap up the year, do they not? I'd think doing nothing on these issues wouldn't be viewed as a positive thing...
@Heath
A good point. 2012 and 2013, 2014 forecasts aren't very good. deficit reduction and tax increase need to happen,
but we should pass stimulus first (UI, payroll tax cut and infrastructure bank at least) for 2012, then start those measures a little later. But i doubt congress will make such a deal before election.
maybe we have to live with this ok solution and not expect a good solution. It's the people who want to not pay more tax but not give up the benefits after all. or maybe majority of Americans understand the problem now but it's too late after midterm election when moderates were voted out with new and radical congressmen.
Fareed, you said "he $600 to $700 million that will be whittled away from the Defense Department over the next 10 years"
Don't you mean Billion?
hey, you are right... i didnt notice.
Nope. Lee is not right. Fareed said what he meant. It is million.
No. He meant million. .1% cut. That is the joke of it all. If he meant BILLION then we would not have any defense spending at all.
oh wait. ok. so it's not that much at all over 10 years.
i checked again. it is 600 billion over 10 years. it's still not that much compared to the cost of the decade of wars.
Incorrect. It's billion. Check the web.
Hmm… public education I would guess. The “triggers” require the Defense Department to cut 600 Billion over the next 10 years (half of the 1.2 Trillion required cuts). That would require 60 Billion in cuts each year for 10 years; or if you would like 60,000 Million per year for 10 years. So sad, just a bunch of parrots repeating “pseudo-facts” with no independent thought or analysis.
Even if $600 BILLION over 10 years, at $60 billion per year it is less than a 10% cut of the annual budget! Come on! After a 30% increase from 2001 to 2009? Can't we afford to decrease it back by only 10%? Who are we kidding when we pretend that we will be suddenly defenseless?
Sorry BOB, we can't all afford private schools. Ironically, if we did cut the defense spending, maybe we could spend that money on boosting our public education. You trash our schools, but then take all the money from them and put it into the war machine...then have the balls to say public education is sub par. BOB – i wish you a life of misery. good night
This 600 Billion is in addition to the over 400 Billion they just cut to the Defense budget.
LOL no wonder america is tanking, people do not understand basic math. Its over the NEXT DECADE. its not $600 billion a year for ten years! WOW AMERICA, why don't you spend as much time learning the facts (and basic math) as you do watching "keep up with the kardashians" . .. . FAREED meant millions because the cuts do not all come at once, they are spread out.
$600 million per year x 10 years = only $6 billion cut over 10 years. $60 billion per year x 10 years = $600 billion. So how are Kim Kardashian and company doing this week?
don't help fareed out with the math
he's supposed to be a self proclaimed expert
We're still fighting the Cold War with Cold War weapons and a Cold War budget, even though the USSR no longer exists. Its past time we do a reality check on the Defense budget, particularly as we have entered a period of belt tightening.
Only now instead of the Cold War, we have elected ourselves world super policemen. It seems like we are constantly at war these days and it is time for this to stop. Perhaps the cuts to the Pentagon budgets will stop this. Instead of not being constantly at war, I hear complaints that now the Pentagon won't be able to afford all of the equipment they need to help safeguard their lives while in battle, but no talk about not sending our soldiers to constant battlefields unless it is absolutely necessary for the safety and security of the United States.
Nice people at the Pentagon, huh. Let's keep those constant wars going and who care whether our soldiers have all of the safety gear they need. Let's buy some more $100 toilet seats and loose billions in the accounting system. Yeah, let's waste our military budget supporting corrupt dictators. Let's face it our foreign policy stinks and the Pentagon loves it because that gives them an excuse to keep spending more and more money. Let's keep that military-industrial complex going. Let's spend our money to kill people more efficiently in stead of our badly neglected infrastructure. What will they come up with next, another fake security threat like Sadam having weapons of mass destruction.
That bothers me also. If we are going to have out of control government spending in one area, why does it have to be in the area of destroying nations and killing people?
If we need the government to dump hundreds of billions of dollars into corporate industry as some kind of corporate welfare, we could just as easy spend it on Wind generator or Solar technology. Imagine the kind of technical improvements we'd get from alternative energy if we had out of control government spending in that area, instead of in Defense.
Is this the line that the administration fed you to explain their lack of leadership ? You are one of their mouth pieces in the media...it is laughably obvious
Obama wins
If Obama wins we all lose. He has NO concept of what it will take to get us out of this mess. Maybe his teleprompter does. In that's that case perhaqps he will get the message. Otherwise we're going down the path to what Europe is dealing with righ now.
GOP plans = drill baby drill + bomb Iran so we can drill baby drill some more in the middle east
Obama's plan = increase alternative greener energy production to reduce oil consumption
Solve the energy problem => Solve the economic problem
Ah, but you do agree Obama wasn't the one who got us into this mess?
30 years of voodoo republican reaganomics FAILED. how can anyone argue otherwise. and what is the republican plan? failed voodoo economics. the ryan plan is the same old crap. everyone of these republican presidential candidate's plans are the same failed policies. they all want to eliminate capital gains tax which is where the corporate wealthy get their income. they want to eliminate the wealthys income tax on the back of the middleclass.
Fortunately , the opportunity is here to completely destroy the GOP. We should be able to completely put them out of business before 2016. I live in hope.
Dream on! Obama is the best thing to happen to the GOP in a very long time. Did you miss the 2010 elections? 2012 will finish the job. This guy was completely unprepared for the job and is still a deer in headlights. What was worse is he surrounded himself with a bunch of like-minded academics full of failed economic and geo-political theory that is dragging us all down. All slogan and no substance.
Contrary to what Democrats having been saying for the last 8 years, the middle and lower wage earners are going to feel it when the Bush(renewed by Obama) tax cuts expire. 3/4ths of those cuts when people making less than $200k/yr. Everyone make more that about $20k will see the taxes increase.
but we still should accept the reality. we haven't even started to pay for the 2 wars.
If you don't let the Bush Tax Cuts expire, the Great Recession will repeat itself again in 4 years.
An increasing gov't debt is the same thing as increasing gov't spending.
Put too much paper money in people's hand to spend will cause increasing consumer spending.
Increasing spending = Increasing DEMAND
If DEMAND > SUPPLY => INFLATION
If INFLATION increases too fast and high => INFLATIONARY BUBBLE BURST => A GREAT RECESSION!
The two main provisions were changes to AMT and reduction of capitals gains. Those both benefit primarily wealthy individuals. Unless you know someone working at McDonalds who has a large stock portfolio, I don't see how its going to affect someone making 20k.
Hooray!! And here I thought our do-nothing President had again done nothing, but now I see his international travel in this time of budget crises was really a great form of leadership!. Thank you Zakaria for helping us to see the light!!
Yawn.
The Republican need to relearn how to Compromise and none of this would even be happen. The Leadership of the Republican In the house and senate Is the worse that America has had In Years.
It take two to tango and Pelosi and Reid are just as guilty. Both parties are ruled by the wingnuts at the extremes.
Are you seriously saying the Democrats have refused to compromise as much as the Republicans have? Sorry, but if someone really has to tell you that is not even close to the truth, then I'm afraid there's no point in even trying. It's like arguing the fact that on a clear day the sky is blue.
There are no democrat wingnuts in Congress. There is only one party of wingnuts. Most democrats today have the same platform as republicans 30 years ago.
Doing nothing; sounds like no job for many for a long time to come.
republicans played well actually whatever happens they will tell their 'base', they held firm against taxes and blame all on dem spending....
"$3 of tax increases for every dollar of spending cut"
How about that! Weren't the Republicans adamently refusing a $3 cut to $1 of tax during the debt ceiling fight? Obama sure is a master at the sleight of hand trick. Way to go!
Obama 2012!!!
By doing nothing, the committee proved beyond all doubt that Obama couldn't lead a fish to water. This is Obama's legacy. One chance to lead and left the country.
You're right. He shouldn't have left those kids in Congress unattended. Why in the hell do we need them then if POTUS has to babysit them and do their job for them?
obama knew what was oing to happen, thats why he set the triggers up.what a great leader,gets 36billion in exports on his tripto asia and got what he wanted , and didn't need to babysit to do it.
Really folks? Cutting the defense budget by a combined trillion dollars is not what needs to happen. I get that cuts need to be made and they are being made believe me. This is not the time to let our enemies see a weakness in our national defense and these cuts will severely hamper our future defense because critical systems being developed now for use in the future will be cut and we would be left with little to nothing to defend ourselves.
It should be fine we have two (and a half) less wars to worry about that's a lot of spare troops and equipment.
Unfortunately it is not just the troops that would be suffering cuts. It is the talented engineers and scientist that develop the protection systems that protect our troops and allow us to do what we do.
Spare troops and equipment????? Wow, you are clueless about the structure of the US Military. Solution: Americans need to pass a basic knowledge test before being given the privilege to vote. We need to STOP “dumb” people from influencing the future of our Nation.
Extra equipment and troops...wow. Amazing how clueless people are. You realize we're flying around 50 year old bombers and tankers right?
You are absolutely, unequivocally delusional if you think we will be made defenseless by this. We spend an insane amount of money on defense. These cuts are only going to scratch the paint.
My friend never said we would be defenseless. I appreciate your response to my statement but uncalled for to call me delusional. I simply said that if you start cutting programs now that are for our future defense when it comes time for those programs to be needed they will not be there. It isn't just about today but future threats to OUR country.
By your standard then, when is it ever a good time to cut defense? It's always difficult or impossible to predict our defense needs (or wants, mostly), 10 or 20 years out. Anyway by not advocating cuts to an inherently wasteful system you're just encouraging the waste to continue, and it's certainly not the wasted billions that are protecting America.
Good point. Its all just frustrating. I agree things need to change i just dont think they need to change all at once.
Really John? If you think that we're going to be weak because of this "cut", which is really just a smaller increase for the defense budget, then you don't know much about our defense budget.
I just see these cuts affecting people on the front lines. You can talk about how we need this all you want and I agree things need to change and cuts need to happen I just think it needs to be done slowly and we get it right not just say yeah this program is gone and that program stays without proper thought going into it.
Well, It was Obama's Sec Def who said the cuts weren't a good idea....perhaps it's you who needs an education on the Defense Budget.
Fine. They do nothing and they get paid nothing. That's a good start.
I agree. Don't forget that the defense cuts aren't even cuts. They are reduced budget increases. I'm with Zakaria on this, though. I don't see the failure of the debt panel as a bad thing at all, and it isn't even a surprise. I saw this failure coming months ago, as did many people.
For this article i have two words, "double speak".
The reason why defense spending is so high is because our NATO allies do not spend minimum amount specified by our treaties. So the US has to pick up the slack. Sec Gates alluded to this during the Libya campaign when we had to pick Europe slack. More facts in reporting Fareed. It would do your crediability some good.
I agree with Zkaria 100%. Failure was expected and the fallback plan was inevitable. The fallback plan just happens to be a better plan.
Zacharia's comment are all well and good until you factor in the fact that Congress can repeal the sequestration legislation, and there is bipartisan support to do so. So much for the brilliant Fareed.
Nope. Congress would have to do so with a veto-proof majority in both houses, which is close to impossible currently.
exactly, President Obama moved them into a win-win position.
This is all nice and well, but nobody has begun to address the one thing that matters most: Jobs. Maybe it's because they don't want the public to know that jobs will continue to be offshored, and there's no plan to do anything about it.
FAREED FOR PRESIDENT!! This man has for years been the most cogent and ratiiona voice in politics.
Can anyone tell me how much taxpayers spend each year on the extraordinary health benefits given to our Congressmen? Seems like this would be an excellent place for budget cuts. Then maybe they would start to realize what the rest of us REAL people are experiencing with respect to healthcare and why solutions are needed. I am 52 years old and I pay $1500 a month for a family health plan with a $7200 deductible because I am self-employed. Most of the doctors we have been with no longer take our insurance because they are so badly screwed, so in those cases I have a $10,000 deductible and that is on their accepted service amounts – not on what I am billed. When a Congressman lives their life the way the rest of us do - that is when they will feel they MUST get things done.
Well said Sir...Well said!
That is where the budget cuts should start.....and no pensions!!
We need to drastically raise taxes on the rich who have manipulated the economy to their advantage and caused its collapse. Then give them a carrot: For every 100,000 jobs they create, they get a 1% tax break.
If we took ALL of the income from the "rich" it would only put a small dent in the problem our economy faces. Cuts will have to be made...like it or not. And, if we over-tax the rich they will just move their investments off shore, which will make the problem worse. It will take a truly balanced approach, meaning that all of us will have to sacrefice...either in highre taxes or reduced benefits in th future. Otherwise, we become Greece.
Thats the beauty of this. The Dems can just pull a page out of the Republicans book and just sit there with 1 finger up their nose and finger pointing with the other. At the end of 2012, bye bye bush tax cuts!
The enforced budget plan will never actually happen. It doesn't go into effect until 2013, which is plenty of time for Congress to repeal it. And they will do so, without question. The supercommittee was useless, just like we knew it would be. Just like all of Congress is these days. Americans need to take a stand, and vote out every single currently sitting person in Congress, while simultaneously demanding term limits and campaign finance reform. Then maybe the next bunch will actually get something done.
Did you notice that Huntsman actually hinted at term limits and got a good applause? He is the Republican's best candidate by far. Too bad the base cannot see it.
Because he is the only smart one of them....and he does not have the dumb tea party supporters behind him.
No way to spin this in a positive light. Our leaders are incompetent, but unfortunately nothing short of a violent revolution will cause enough change for anything to get done, the occupy movements certainly aren't doing anything, at the very least go block an airport runway or prevent a GE Factory from outputting products, do they not realize WE IGNORE PEOPLE LIVING IN PARKS EVERYDAY?
I would like to thank younger generations who accomplish this in advance.
And all of the lost and broken lives will now be on your head! I hope you can live with yourself...
I am sorry, but if you really believe that Americans killing Americans is the way to go, then you need therapy.
A tax increase would have meant alot to me, before I lost my job of 20 yrs after training a 20 something yes man AFTER being promised both a promotion AND the old job as a fall back.
So, NO, I don't care if taxes go up, or up to where they were a decade or two ago.
It was this tax haoliday that in large part cost me my job, and keeps me from getting anything other than P/T low income jobs with no benefits and not even Federal Holidays.
I especially don't care if the top 1%, who boast they pay more in federal income taxes, mind you, ONLY federal, as a % of income, the top 1% is still paying less in all forms of taxation and gov't fees than the middle class and some poor.
As to what the tax holiday is doing to shore up the economy, NOTHING because the ones getting enough to spend on consumer durables, cars, houses, etc are the 1%, who AREN'T spending all they get, they don't need to when it's millions a year. PS: The payroll tax break, which come from SS by the way, draining that faster, is also a GREAT GIVE A WAY to the 1%, and even 5%, but to the middle class and poor, it's $8 to $16 a week, buying a new TV with that, or just buying lunch once a week. Extending unemployment and adding weeks would instantly create $2 or more in spending for every dollar of UE, because EVERYONE ON UE has to spend every penny they can get to survive, and the shops etc they spend at then spend that money again. Not to mention keeping another million houses out of forclosure and off the bloated RE market.
But
Sure, debate if ANY tax cut is helping, roll out the experts who say they are, just proves what I say, the news industry is as bought and paid for by the top 1% as the politicians are.
PPS: Don't worry, the politicians can and will extend the tax cuts, can and will eliminate any automatic deficit cuts by the simple expedient of INCREASING THE BUDGET EVEN MORE.
Which is why they all need to be voted out, and remember when you vote for new idiots, Republicans = No breaks for anyone but the top 1 or 5% and business, Democrats = Some break for the bottom 95 – 99%.
Am I not sounding fair, fair became passe when Leave it to Beaver went off the air.
Sounds to me like you were a lazy SOB that needed to get kicked out of your over paid position to teach you a lesson. Hard work = prosperity
Bonus points for the name, Dell, but it's actually Del Stator (a type of motor winding...but I digress) ! Back to the toad pit!
WDS & Missouri Hank - Perfect examples of what ailes America today!
I bet a trillion dollars that the super committee's failure was a planned legislation wherein both sides got what they wanted ( cuts to social services, tax increases, plus a military budget trimming) without either having to take credit for letting the other side get anything. Legislation through planned failure. I love it.
Occupy Congress!
How can the 12 professional politicians not compromise on even the smallest token proposal??? They are a fraud.
Failure is truly the only option these dilettantes can muster. They are the cause of the failed economy due to their lack of providing a support structure for the taxpayers and the economy that pays their salaries, their healthcare insurance and their unsupportable bloated pensions.
Occupy Congress! Demand 2 year term limits. If a professional politician can't create a solution then there's no need for them to come back and collect a congressional salary. now I know how the Greeks feel! And I don't like it.
That is quite a spin, Fareed. However, your theory falls apart if a Republican is nominated into office. If that happens, the Bush tax cuts become permanent and we will get further draconian spending cuts. This is why the Kochs are lobbying so hard this term. Under the Republicans, the rich will get quite richer and the poverty level will skyrocket. Welcome to the New World Order, Republican style.
Sorry, but I have to disagree with you on this one. I'm just going to throw out there an example for you to think about...
While under Repubican control of the executive branch (and for a while the legislative branch), we saw the stock market move over 13000 points. The unemployment rate was approximately 5% for most of that time, however it did surge to 8% at the end. Stock market also dropped to 10000.
While under Democratic control of the executive branch (and for a while the legislative branch), we saw the stock market continue to plummet to about 9000 points, then resurge to over 12000 points in two years time, yet the unemployment rate is still 9% .
It seems to me that regulation and exhorbinant government spending is not the answer to our problems. I'm no economics or political mastermind, but I do have a decent memory and can figure things out pretty quickly when the facts are clear.
You forgot to mention the recess took place while Bush was in office. Remember? He also was the firs one to vote for stimulus money before he left office. Funny how republicans try to blame President Obama for the economy but conveniently forget who drove us to the ditch.....
WDS - I'm trying to figure out which one of the following is true about your comment here:
1) It's one of the longest sarcasms I've ever read
2) You're willfully uninformed (I hate to use the word "ignorant")
3) You're locked in the Right-wing bubble and can't see or hear the facts
I'm really not sure which it is...but it's all bad.
who / what CNN positions him to be - and too many shallow people agree with him .. But THIS COLUMN is correct .. Global military adventurism by the USA MUST STOP .. Not only will it bankrupt us, but it leaves a residue for further direct diplomatic & economic problems .. The only way to rein in our military is to start cutting the funds. However, do NOT cut the pay & benefits to the troops who do the dirty work - because they will tell their kids and future target recruits will decline to sign on.
Actually make sense. Similar to the best strategy for warfare is winning a war without fighting, the highest state of governance should have minimized intervention to a functioning mechanism that is well designed.
Fareed Zakaria has too many opinions on too many topics .. He is NOT a genius .. But THIS COLUMN is correct .. Global military adventurism by the USA MUST STOP .. Not only will it bankrupt us, but it leaves a residue for further direct diplomatic & economic problems .. The only way to rein in our military is to start cutting the funds. However, do NOT cut the pay & benefits to the troops who do the dirty work - because they will tell their kids and future target recruits will decline to sign on.
All republicans have herpes and all democrats have aids..... They both like to point at each others' flaws, and like to think that their problems aren't as bad as the opposing parties. Lets see what comments I get here!
enjoy quick tempered bloggers 
happy thanksgiving!
My comment would be that I... agree? Not so sure what you think is revolutionary about the idea that both parties are horrid.
I just get sick of the constant arguing. Both parties must learn to make sacrifices without being bitter. The only fact I really know is that history repeats itself. . And the U.S. is looking more and more like Rome every day.. Sacrifice and innovate.... now that's the new revolution
Another good thing is that obamacare remains unfunded if the super committee does nothing.
Jake
All republicans have herpes and all democrats have aids..... They both like to point at each others' flaws, and like to think that their problems aren't as bad as the opposing parties. Lets see what comments I get here! enjoy quick tempered bloggers happy thanksgiving!
"the $600 to $700 million that will be whittled away from the Defense Department over the next 10 years"
Maybe I'm wrong, but isn't that $600 to $700 BILLION over 10 years? That's still under 10% of the on-the-books budget, though.
Yes, it should read "600 or 700 billion dollars".
However, thats barely a drop in the bucket of the Defense budget, about 6% of the direct Defense appropriation. As Zakaria observed, we've dramatically increased the Defense budget over the last 8 years by 70%, so a 6% cut is barely going to be felt.
Always interesting to me how people with no military service suddenly become experts on defense spending, redundancies in the services, the effects of "whittling away" the budget, etc. It's equally appalling at how easy it has become to advocate for reduced defense spending amidst the longest running war in our history while the upper crust in our society (such as Mr. Zakaria) are called on to sacrifice/contribute so little to keeping our country safe other than authoring ill informed (yes, it is actually $700B), half baked editorials that defend the partisan failures of our country's leadership to reach compromises in the interest of our citizens from bottom up. Thank you Mr. Zakaria for refreshing my distaste for our detached media that panders to the 1%.
If by longest war in our history you mean the war on terror, you'd better settle in because this war is going to last for eternity. If you mean the Af/Pak war, we'd might as well just admit we lost and aim for "peace with honor". Do you really think another 5 years of stalemate will do either of our countries any good?
Congress will finally do something when it comes to postponing the date where sequestration kicks in. You can't be so naive, Fareed, as to think Congress will follow its own rules on this one, do you?
Nice name Fargo. I once lived in a town named Fargo, ND.
"As long as we can signal to the world, to markets and to ourselves that we have a serious, reliable process in place to deal with the deficit, there’s no immediate urgency"
We havent and wont And that's the rub isn't it?
Why do we need 13 aircraft carrier task forces? No other country has even 2 aircraft carriers.
Why do we need 70 or more nuclear submarines? Nuclear submarines aren't going to catch terrorists. Not even one.
Let's stop fighting the Cold War and rethink how we do Defense.
Oh no, how dare you even think about reducing our military spending. Anti-American, libtard, communist. Don't you know that America HAS to shovel billions of dollars into the military, because.....because....we are the greatest country on the planet and it is our patriotic duty, and if you don't believe so, then you are an unpatriotic traitor and should go live in another country, because....because.....Jesus said so. Muslim lover, terrorist. What else could we possibly spend all that money on? Don't even say health care, that would be socialist. Don't even say better education; FoxNews and the bible are all that any red blooded American needs. OH SAY CAN YOU SEE........
It is good that they didn't raise taxes. There has never been serious cuts offered. By not raising taxes it has the effect that they won't spend as much. Until they come up with something serious that fixes the problem the people that won't raise taxes are actually doing the right thing. It's a shame so many people don't understand this.
Is eliminating tax loopholes and subsidies a tax increase? Don't think so, but republicans and their lobbyists think it is. Do oil companies need subsidies?... Not more than you and I. Republicans don't represent me....democrats don't either...
Funny, Fareed actually thinks those bozo's will abide by their own written terms of agreement! They are already working on legislation to weasel out of it. Nothing will get between those pickpockets and taxpayer money, NOTHING! No promise, not morals, not the well being of America. They will WILLINGLY take the country to ruin if it means they can manage to squeeze another term in office by doing it.
Go ahead! Vote a repub or t-partier into the WH. Vote a conservative bloc into both houses. Then STFU when they kick the stool out from under you.
A two party system plays off on each other. Literally we are 1 party more than fascists. We are the only model democracy/super power where we proclaim how awesome democracy is with a system just 1 party above facist. They other party always plays on fascist philosophy, vote for us we'll solve your problems. A third or 4th party is what stops hyper partisanship and special interest pledges. I promise to stay loyal to you, not my country, not my voters, i don't represent them. These jokers care more about their party then their own country. They are bums, kick them to the curb. Stop accepting inaction as acceptable. If you did jack s at work, you'd get fired, they should too. These clowns are there to collect a paycheck that's it, they want that juicy benefit package and screw all concepts that they are doing their national service since their isn't a draft, they just want money. They will never solve your problems like they claim, it will get solved when you sign up for that absentee ballot.
Doesn't someone proofread the article before its put out there........."As for the much-feared defense cuts – the $600 to $700 MILLION that will be whittled away from the Defense Department over the next 10 years – I don’t feel that this is as draconian as people think."................Its 600 to 700 BILLION........no one reads their stuff before they put it out as fact.......that is a major error and of course anyone wouldn't think thats draconian if there weren't informed as to real amount of money cut.....hire a proofreader Fareed........
That is a serious problem. Sometimes even the headlines are messed up. I guess it fits with the general dumbing down of America, though.
If Fareed is having trouble keeping numbers straight, I can only imagine the difficulties Congress must be having.
Lots of emotion, few facts. Frankly I don't give a darn for either party, so lets just look at the numbers. First, about $200-300B of the defense budge is what is called "OCO"...that's the supplementary war funding. It stops in 2013 anyway by Congressional edict and doesn't count in this equation. That leaves about $450-500B as the "permanent" defense budget. The DoD has already signed up to cut about $400B from the next six years, so adding another $600-700B bucks to that will be somewhere around a $1.0-1.1T cut in the defense budget, or $100-110B each year for the next decade. Do the math and it says that's about a 20-25% cut in the DoD budget. You can like it or hate it, but those are the numbers. Now what does that mean? What does the budget really do? It hires people...gov't employees, gov't contractors, men and women at the defense companies and their suppliers, people who work in defense related locations cleaning, cooking, fixing broken stuff, installing new stuff, building facilities, auto workers who build staff cars for the DoD, etc. If you assume that every employee unltimately costs the government $250,000 every year, $100B divided by $250,000 is, by my count, 400,000 jobs in the economy. If the average cost is less, the job numbers go up ($200k avg is 500,000 jobs). That doesn't count the civilian workforce that gets laid off because people aren't spending as much at the stores. I saw a report once that said every mfg job in the economy supports another .5 jobs, so the 400,000 or 500,000 now goes to about 600,000 to 750,000 lost jobs.
Given those numbers, I'd be very careful about slicing the budget quickly. You'll need to time to creat new civilian jobs to absorb the lost DoD-related jobs.. Oh yeah, the other $400B of non-defense cuts do the same thing. Ultimately that money hires and pays people in some fashion...roughly another 40-50% of the number of the DoD related jobs.
You're assuming we don't get ourselves into any new wars in the next 10 years, which given our track record since the Cold War, seems highly unlikely. The military is very good at constructing security threats in the mind of the people, justified or unjustified, just so long as it's an excuse to use their services. As the Cold War ended, right away we started in on Iraq, then Somalia, then the Serbs, then the unwinnable war on terror that has taken us into Afghanistan, Pakistan, Iraq, Yemen, Libya, and Somalia. Obama has already started more wars than he's finished. So where next? I'd bet on Iran, and playing up the Chinese threat to increase our presence in the Pacific.
You're probably right...the Chinese have just been hacking into our Defense Networks because they just wanna be friends right? Keep drinkin the kool aid
That's mostly a reasonable analysis. I don't know anything about some of your defense cut numbers, but I'll take your word for it. Since you've boiled it down to an unemployment number, I'll comment on that. The true essence of the problem is that we practice a version of capitalism that is ambivalent toward joblessness. Profit is priority one, two and three. Real GDP is back to pre-recession output, yet the economy is short almost 6 million private sector jobs. Nineteen people are doing the work that used to be done by twenty. Until something changes with regard to prioritizing full employment, we'll continue to have dysfunction: people paid for doing nothing while there are things that need to be done.
READ MY LIPS: NO NEW TAXES!!!
I tried getting my boss to read this about how by doing absolutely nothing at work I'm actually being hugely productive. Don't think he bought it.
Depends on how much of a screw up you are. You might cost the company even less by not even coming into work.
Typical Zakaria article – a whole bunch of nothing. These "forced measures" are really going to go into effect? Congress is already writing legislation to keep military spending, and to extend benefits. We need cuts right now, not over the next ten years. We need a LEADER to take the case to the American people that cuts over 10 years are not cuts. We need cuts NEXT YEAR not in 10. Not a problem against an already approved budget, BECAUSE THERE IS NOT ONE! When I read Zakaria, all I get is the nonsense that has gotten us in this mess to begin with. Throwing around words like "global", "innovation", "technology"... Obama needs to be out next year, and Zakaria needs to go with him – maybe they will start a global quality, technology, innovation, intelectual think tank that focuses on raising money to save the planet from global warming, hatred and backward thinking. Doing nothing is a win so that laws (that will never be enforced) will save us from ourselves??!? America was built upon innovative people that work hard to better themselves – not on top heavy beauracracies, and garbage writers like this one.
I think we fire them ALL. Right /Left, President, VP, all the candidates, and start over. Get the old farts out and get some in with some updated information. We need to get back to basics folks. I don't think anyone on the Hill is working for US.
everything that comes out of this fool's mouth is complete nonsense. I have no idea how he can look himself in the mirror every morning.
People who aren't very smart or educated often say things like that about people who are so much more intelligent.
Tough spot for President Obama IMO. We all know the Bush tax cuts helped the wealthy but they also helped the middle class and if they expire he will be raising taxes on the middle class in an election year.
The Bush tax cuts don't expire until 2013. The election year is 2012. There is always the lame duck session. Judging from what happened last year, that may well be when something could get done regarding the Bush tax cuts. My preference is to let them expire. The question is: when?
How about now? It did not create any jobs and the corporations who got them simply gave huge bonuses to their top managers anyway....
Anna: now? I am not a fan of the Bush tax cuts to say the least, but here's the problem. We're just coming out of an epic debt-fueled bubble. We've seen nothing like it since the Great Depression. I would say this bubble is worse than the one that ushered in the Great Depression, but that could be debated. Unfortunately, we're painted into a corner. What we need now is more stimulus. Enough with the tax cuts; that has gone too far. Let's get people back to work. I don't care if it exacerbates deficits in the short run. Since it generally takes 5 to 10 years to recover from debt-fueled bubbles, the most important thing is to have everybody working who wants a job. It is highly dysfunctional to have people collecting unemployment checks when there is so much work to do.
Put a one-term limit on EVERY political office. No more careers sucking tax dollars and glad-handing for corporate handouts. When there's no money to be made in politics, democracy might have a fighting chance.
It's not like you have to vote for the bad president again. That's basically the exact definition of democracy. Then again anyone who thinks any of the Republican candidates now will save America seriously needs to re-educate themselves.
Hey Fareed, The $1.2 trillion is not cuts. It is against a budget that has 8% annual increases built into it. The deficit will grow by $9 trillion inspite of all you talked about. The $1.2 trillion and the tax increases just slow down the growth in the deficit.
The two big stories here are that the government has a base line budget that grows at 8% each year which is much more than the US economy will ever grow. Current GDP growth is 1% and in the best times it is only 4%. So our government is planning on growing and growing much faster than the economy can support.
The second big story is that the news media is incompetent. They publish articles like yours which talk about cuts when there are no cuts. Its time you guys did your jobs and educated us on what is really going on.
Current GDP growth is over 2% (last 7 quarters). Why is it that you think the cuts are to budgets that go up 8% per year? Where do you get that information? I haven't seen that and it doesn't sound right. Also, 8% of the federal budget is not comparable to 1% of GDP. That just isn't apples to apples.
If only we could be confident that it would go as smoothly as presented here. Some how I just don't see that happening!
$600-$700 million in defense cuts translates roughly into two less fighter jets the military will have to do without. I think we can survive that.
It's 600 Billion genius.
By doing nothing.... congress can accomplish.... ok, can YOU spot the spin?
It was the total failure of congress which led to the creation of this super committee... their continued failure in no way spells any amount of success for congress. What was this guy smoking when he wrote this??
As normal you just don't think before you write – It is not millions of dollars being cut from the defense budget that is a B in front not a M - Yes it is Billions. And it was not the Republicans that kept blocking all of the deals, it was the Democrats. In fact there was a deal until the Democrats went back to their leaders and was told NO DEAL!
So please if your going to take the time to write these columns - please take the time to do just a little research on what you are writing first. But coming from the Communist News Network (CNN) it does not surprise me.
Only problem with this article is that the entire premise is wrong; Congress can (re)write the law to completely negate any automatic increased cuts or taxes at any point.
I think that requires the President's signature, though.
Our process of governing needs to be reformed. That should be the top priority, ahead of the deficit, unemployment, security or anything else. We have a nonfunctional government – no mechanism for treating society's problems. that has to be our first concern.
It does seem completely moronic to think we should allow taxes to increase and spending to get slashed, right? Not really. It's not moronic at all. Look at the everyday American worker. The American worker will see that it is far more economically sound to cut spending on things that he/she doesn't need while trying to do whatever they can to increase income so that they can be able to pay down debt. Much of my debt is simply student loans. I had to cut back on spending (drastically) and find way to increase income so that I can pay off my loans faster.
I know it is a controversial idea to cut spending on Medicare and Defense (which are the two biggest sources of expense), but let's face it. If we can't afford it, what choice do we have?
Zakaria, most decent people would be embarrassed to be an Obama flack.
Uneducated people often say things like that, as they disparage knowledge and intelligence. It really shouldn't be a surprise that people from the left side of the bell curve for IQ don't grasp what is said by people from the far right side of the curve.
Well if they are going to do nothing, why do we even need them? Screw elections, they should be fired immediately for failing to do their jobs just like any other employee would.
I bet they just sat in a room drinking the finest wines and eating $600 muffins all day.
That story was debunked. I guess you didn't see the correction. The original story was that the muffins were $16, not $600. It turned out that included the conference facilities and other food items.
"Better policy would be to delay the onset of cuts for a year or two until the economy begins to recover."
That's nuts. If we do not commit to spending less the economy will never recover.
Spending less doesn't help the recovery. Just the opposite.
Ah, I see so you think that spend - heck spend everything we do not HAVE helps the economy. Just like your idol that spent our children into debt that they will never come out of. Great we should all say thanks.
Instead of making this socialistic economy and bankrupting us all - balance the spending with a dose of common sense. Which neither the democrats or republicans seem to have anymore.
Frank: Bush is not my idol.
Glad someone else out there has an optimistic view.
I guess the problem I have with the do nothing congress and the super failure committee is that they are doing this on the backs of taxpayers. Anyone else who doesn't do their job, gets fired.. Why are you giving the super failure committee a pass?
Can we who are Americans demand term limits? As a democracy, can we revolt? Can we insist that we actually have a say in what is happening to our country? Somehow, we need to get back to where we believe in our country. We need to stand up folks. This is insanity. I am not speaking for the right or the left. I am speaking for Americans.
I am all for having my taxes increase at this point!
You can pay more taxes voluntarily when you fill out your return.
Just so you know, in case that's how you REALLY feel.
It seems that dems/repubs are just as divided as the congress. Can we just talk about what is good for the country instead of calling each other names? Where is that getting us? We need to stand together against this crap that is happening to our country. We put up with it year after year, election after election. Something needs to change. NOW. We can't let them divide us like this.
The Dums were divided just as bad in the 2008 primaries. Now we've got an even bigger mess to clean up.
The Dum Dums don't represent working people anymore. They represent the pampered, overpaid public sector unionistas. And if you're not one of them, you're sunk.
http://www.realchange.org/gingrich.htm
The cuts dont take effect until 2013... I just hope the Bush tax cuts do not get extended again.
After 26 years in service currently on my second tour to Iraq in three years, I blame the Active Component Leadership prosecuting this "war on terrorism" spending millions of $ unnecessarily.. The curent regime , 18th ABN Corps, has been hedging bets with taxpayer funds by prolonging decisions, transitioning their HQs all over the battlefield, two or three times, spending vast amounts of transportation and construction funds resetting up their respective command and control operations. In addition, we spend millions of dollars in “contract” work that are inherently military or could be facilitated via troop labor. It costs on average $37/ plate to feed a troop per meal for example. We are paying $250K / year for one contractor maintaining UAV’s; multiply that by however many contractors there are in theater working on this type equipment. We are paying contracted security forces $80–100+K year to check ID cards and swing open gates at entry / exit points. Hell, we just spent $500K on a contract to refurbish fuel tanks this past September only to mothball it in November all undcer the guise of maintaining enduring presence . These are just a few examples of the myriad of abuse perpetuated by the Active component leadeship. There is absolutely no accountability on KBR with all their mass purchases of equipment that just sits in warehouses here in theater. Go to the Defense Logistics Agency — Disposition Services yards and you will find tri-walls and tri-walls of the same components being “turned in”. Absolutely zero accountability.
Yes I am also upset that personal benefits keep eroding for those who serve, but it’s the people’s fault to keep voting these same members to Congress at every election. Term limits, tax overhaul, curtail immigrant entries, revamp the Federal energy and education departments are few changes I propose, to include minimize support¬ing / subsdizing all these other third world countries who are so corrupt and hate us anyway. These Muslim countries are only turning on us BECAUSE the money is drying up. Their mentality is "what can you do for ME today". Even islands like Puerto Rico get subsidized $2B per year and they don’t pay any federal taxes. There are a lot other programs that could certainly be cut back that doesn’t affect the security of our country, or the benefits of the men / women who serve, but culpability also lies in all the Senior Military Leaders who don’t make prudent decisions regarding spending our tax payer dollars as I mentioned above.
A very unique perspective. We need guys like you in Congress.
VICTORY! Celebrate the Super Committee failure! Three big things happen, all good for America:
1. Bush tax cuts for the rich expire at the end of this year. Victory for the 99%!
2. Cuts in defense spending. America needs to adopt a more pacifist foreign policy. No more immoral and wasteful wars!
3. No cuts to Social Security, Medicare and Medicaid. The right thing to do for our parents and grandparents!
Gridlock in Congress is a wonderful thing when neither party has a good solution!
Eric you and Fareed have the same I.Q. -10, except you may actually edge him out because you do not work for CNN.
Pay attention, the cuts in defense are not cuts at all. The DoD budget will still increase by 16% with the so called cuts – compared to 23% if there are no cuts! The cuts are to future increases in spending only. So, no matter what, the DoD budget is actually going up, not down. Do you hear me? They are trying to pull one over on us and doing a great job I must say. I don't know how anyone can call an increase in spending a cut, but that's what they are doing. Come on people, pay attention.
Wow, government by dolce far niente...who knew?
Whether Congress gets over its constuipation or not will make little difference. Come back four years after the next Presidential election and tell me how we've fared.
DoD cuts are not cuts at all. They target future increases in spending. So regardless if these 'cuts' go into effect, the DoD budget will actually be increasing – 23% w/o cuts and 16% w/cuts. Smoke and mirrors, folks. Wake the hell up!
Though an interesting observation, Congress can vote to extend the Bush tax cuts in some form or fashion as the end of 2012 approaches. It can also vote to adjust the $1.2 trillion in budget cuts as the 2013 pivot year approaches. All current indications suggest that Congress will likely take those steps. So, I'm afraid I don't share your glimmer of hope.
US Congress should commit Hari-Kari.
.
Starting with Hari Reed.
As long as the Dems continue to spend, spend, spend, it is really best if the Congress does nothing. We cannot afford to grow the debt, any more, at all. It will take 20 yrs. to pay off the debt incurred in just the last 3 yrs, and Obama will spend right back up to the debt ceiling again, if the Congress permits him to.
The GOP has to hold the line, and stop the spending.
I couldn't agree more!
Exactly.
I find it interesting when people or a political party have a different idea or opinion it becomes "wrong" "party of no" or "partisanship" when there are American citizens that have differing opinions. The representation if thats what you can call it represents the different ideas, it doesnt make them not valid. Just because one party doesn't become convinced that your ideas are right, doesn't make their ideas wrong.
the "Super committee" got paid didn't they? Then already they took more from the people than gave.
"As long as the Dems continue to spend, spend, spend..." Huh? W and the REpubs controlled govt. for 8 years and now they also control the House of Reps which controls the purse strings. Guess who's been spending?
Remember when you were at the play ground in the 50s and 60s and the richest kids had the only balls, and they would say "if I cannot be the quarterback or the pitcher or bat cleanup I will take my ball and go home. well, that mentality is now ruling congress, and the spoiled kids are now congressmen and belong to the Republican party. To hell with all Republicans and some Democrats that vote with them.
I see where some blue collar workers are dissatisfied with Obama. that is O.K. But, if it means they are going to vote for a Republican or an Independent [if one runs] that is not O.K. There is an old saying that says "You had better dance with who brung you", and that is damn good acvice. If you think the Republicans brought the Unions and better wages and conditions, and benefits, you had better read your history books before you go to the polls.
I have to respectfully disagree with you, Mr. Zakaria. The problem is that for too long Congress has either done nothing, or the wrong thing. While it is true that I'd rather they do nothing than the wrong thing (again), it still is not good enough, and it isn't the reason they have been hired. They aren't doing their jobs – at least for the American taxpayer (but I'm sure their primary paychecks come from large corporations, lobbyists, and private interest groups, so who really cares about Joe Blow Taxpayer). Let's un-elect everyone currently serving, and see if the "new Congress" gets the message that the taxpayer, Republican, Democrat, Independent, or otherwise, is fed up with the Fed Gov and all of their BS.
Correct me if I'm wrong but are these actual cuts or just cuts in the RAISES.......
(per Ron Paul)?
Do nothing Congresses, overall, are the best, because the ones that change things usually make things worse. The author, however, is too optimistic. The Bush tax cuts will never totally lapse because that would be such a big tax hike on the middle class. 75 percent of the revenue lost from the Bush tax cuts were from the middle class.
Well I guess it is a good thing the "Do Nothing" option was not "Invade Iran to distract the voters". Our government is gridlocked in partisan extremist politics arguably hurting the country and cannot compromise even when mandated to do so or even more chilling, intended/designed to fail from the start and the best analysis the author can come up with is that with a massive failure of our elected officials to solve the problem – it's all good ? Really ?
I am afraid you will neve see any of those cuts, its not in any politician's interest.
so why does the revenue tax departments have science laboratories and phoney research development. what is it doing in the tax department. in different cities. it looks like all the phoney research labs are part of the government laboratories and siphoning money for phoney research.
it may be that the zantac/ranitidine i have been taking is the cause of my crippleness pain in the limbs. it may do what lipitor does to you but from a different biochemical activity development. in suppressing completely acid reflux the medicine may be cutting important stomach enzymes and acids needed to kill certain bacteria, which end up perhaps permeating the rest of the body and not staying in the stomach. so you forfeit stomach bad upsets and become crippled instead. another may be that it has some other damaging strictly chemical side affect. i have to discontinue it and advise you do the same if you are on it which many had to do because of i don't know what that caused the acid reflux severe stomach discomfort to begin with yet.
The super committee was never intended to solve anything. As a matter of fact, it did exactly what both parties intended it to do: nothing.
It is going to be a very, very nasty election year.