Super committee taking shape

Rob Portman Pictures, Images and Photos We now have all 12 members of the super committee named, which will be tasked with agreeing to a debt reducing deal. I won’t bother naming everyone since only a couple of the names are known to the general public anyway. The way this super committee is structured is 6 Democrats and 6 Republicans. It is further broken down into 3 from the House and 3 from the Senate from each party. To come to an agreement, this super committee needs a simple majority to pass a measure. After this is done, the House and Senate must pass the measure and the President must sign it into law. If any of these things does not occur then serious arbitrary cuts to the U.S. budget will automatically take place to the tune of $1.2 trillion. No party wants this so hopefully it will force the two sides to agree to something better.

Just about everyone in America and the world, outside of a tiny minority of ill informed Republicans know that a part of this deal should include getting rid of the Bush tax cuts on the rich. I believe that if this is not agreed to then the stock market and economy will react negatively. On the Republican side of this super committee there is only one person that MIGHT agree to a deal that includes this element. That person is Rob Portman. He is seen as the only Republican chosen for this super committee that would be willing to negotiate and move away from dangerous ideological stances like ‘no tax increases at all’. It remains to be seen if he will come through and do what the world knows is necessary.

It may not be a stretch to say that Rob Portman may be in a position to save or destroy the global economy. Hopefully he will do the right thing.