The failure of the Super Committee is a perfect example of having to force the government to do the right thing. Allowing any increase in taxes would have just let them off the hook. It wasn't even that hard and they couldn't do it.
From the only politician who knows what he's talking about.
“This week marks the deadline for the so-called congressional Super Committee to meet its goal of cutting a laughably small amount of federal spending over the next decade. In fact the Committee merely needs to cut about $120 billion annually from the federal budget over the next 10 years to meet its modest goals, but even this paltry amount has produced hand-wringing and hysteria on Capitol Hill. This is only cutting proposed increases. It has nothing to do with actually cutting anything. This shows how unserious politicians are about our very serious debt problems.
Keep in mind that the 2011 federal deficit alone was about $1.3 trillion, which means the Super Committee needs to cut that much PER YEAR rather than over a 10 year period. If Congress ever hopes to address its debt problem, it must first stop accumulating any new debt immediately, in 2012.
“Federal revenue likely will be about $2.3 trillion in fiscal 2012. The 2004 federal budget was about $2.3 trillion. So Congress simply needs to adopt the 2004 budget next year and the federal government will balance outlays and revenue. That’s all it would take to produce a balanced budget right now. Was the federal government really too small just 7 years ago, in 2004? Of course not. Only Washington hysteria would have us believe otherwise.
Are any of you really that sad about the DOD being now forced to cut $550 billion? I'm not. Of course they'll probably just screw over the soldiers and not stop any of the military interventionism that keeps their Defense contractor donors fat and happy. THAT is the system that needs to be fixed and increasing taxes would only make it easier on them to continue screwing us.