So, the Super Committee has failed to come to an agreement on $1.5 trillion in deficit reduction. It sounds like the Democrats put Medicare and Social Security on the table, but the Republicans were unwilling to allow the Bush tax cuts to lapse.
The result? Well, the committee’s failure will trigger $1.2 trillion in cuts. Those cuts will be divided between national security and domestic programs but would not touch Social Security of Medicare, and the Bush tax cuts would lapse.
Sounds good to me.
Amid all the talk of “failure,” there’s a fundamental fact that is being overlooked. All it would have taken for the Republicans to get their way with the Bush tax cuts was for one Democrat to break ranks. Most of us on the left saw Senator Max Baucus of Montana, a relatively conservative Democrat who famously had advocates for single payer health care removed from a committee hearing in 2009, as the weak link.
Baucus didn’t cave. If you’re looking for whether Occupy Wall Street is having an impact, that simple fact is evidence that it is.