WASHINGTON D.C.-The deficit super committee created during the debt ceiling crisis, held its first meeting today. Theirs is the responsibility to pare the deficit by $1.5 trillion by Thanksgiving. This first meeting is essentially one of organization, and seems bi-partisan today, as the sessions progress, this will probably pass.
The committee co-chairs, Senator Patty Murray, Democrat from Washington, and Representative Jeb Hensarling, Republican from Texas, will be alternating on chairmanship of the committee, today was Hensarling’s turn. Murray will chair the next. The committee consists of 6 Democrats and 6 Republicans.
It is the responsibility of this committee to lower the deficit by $1.5 trillion, if they fail in that responsibility, cuts will be made to defense and domestic spending. While both sides of the aisle do not want it to come to that, Democrats and Republicans are quite a distance apart as to how to reach their goal.
Their job will no doubt be a difficult and contentious endeavor as Democrats will assuredly demand tax increases if programs such as Medicare and other entitlements are to be whittled down, and Republicans will steadfastly resist tax increases.