Congressional Super Committee Falling Towards Failure
Due to a last minute Democratic rejection of a GOP plan, the so called Super Committee tasked with shaving over a trillion dollars off the Fed Defecit appears headed to failure.
Democrats rejected a GOP plan that would cut 643 billion over the next decade from several social programs, because the GOP plan did not include tax increases. The GOP Plan includes some new revenue sources from Federal Land Sales, closing a few tax loopholes, and some non taxation plans that would raise funds. Democrats again say the Republican plan doesn’t include enough tax increases. WA Senator Patty Murray said the plan was not fair enough.