By The Hill Editors - 08/09/11 11:21 PM EDT
Many people are skeptical about the “supercommittee” that has been given a statutory mandate to solve the nation’s grim fiscal outlook.
Inside and outside the Washington Beltway, it is noted that recommendations from prior commissions on the debt and deficits have failed to become law.
So there is a strong incentive for lawmakers to strike the “grand bargain” that eluded President Obama and GOP leaders in Congress last month.
Yet there are daunting obstacles.
One is the make-up of the supercommittee.
Senate Majority Leader Harry ReidHarry ReidSatanists balk at Cruz comparison Cory Booker is Clinton secret weapon Overnight Energy: Dems block energy spending bill for second day MORE (D-Nev.) and Minority Leader Mitch McConnellMitch McConnellOvernight Finance: House rejects financial adviser rule; Obama rebukes Sanders on big banks Senators roll out changes to criminal justice bill Sanders is most popular senator, according to constituent poll MORE (R-Ky.) and House Speaker John BoehnerJohn BoehnerSunday shows preview: Cruz pulls out all the stops ahead of Indiana Sanders-Warren ticket would sweep the nation GOP rep. on 'Lucifer' remark: Boehner has ‘said much, much worse’ MORE (R-Ohio) and Minority Leader Nancy Pelosi (D-Calif.) will each select three lawmakers for the panel.
It is highly likely that all 12 chosen will be loyal to their party, hampering the chances of a bipartisan deal.
It’s hard to see how Rep. Paul RyanPaul RyanFormer GOP senator: I’d back Trump but not Cruz as nominee House GOP reignites push for budget plan GOP chairman: Our ObamaCare alternative coming before July MORE (R-Wis.) and Sen. John KerryJohn KerryInterior chief: ‘We will have climate refugees’ "Lebanizing" Syria Why Obama's 'cold peace' with Iran will turn hot MORE (D-Mass.) could agree to a massive deficit-reduction plan. Could Rep. James Clyburn (D-S.C.) and Sen. Orrin HatchOrrin HatchSupreme Court wrestles with corruption law IRS: Annual unpaid tax liability was 8B Hatch asks Treasury for memo that decreases transparency of tax rules MORE (R-Utah)? Unlikely, especially with the parties bickering over what the supercommittee can and can’t do, especially on the perennially and rightly contentious issue of tax hikes.
Leaders must make their appointments to the supercommittee by Aug. 16. Reid went first on Tuesday by naming Sens. Patty MurrayPatty MurrayOvernight Healthcare: Medicare fight looms on Capitol Hill Senate GOP hardening stance against emergency funding for Zika Overnight Healthcare: More trouble for Zika funding MORE (D-Wash.), Max BaucusMax BaucusWyden unveils business tax proposal College endowments under scrutiny The chaotic fight for ObamaCare MORE (D-Mont.) and Kerry. BoehnerJohn BoehnerSunday shows preview: Cruz pulls out all the stops ahead of Indiana Sanders-Warren ticket would sweep the nation GOP rep. on 'Lucifer' remark: Boehner has ‘said much, much worse’ MORE is expected to announce his selections in the coming days.
The recent move by Standard & Poor’s to downgrade America’s credit rating, and the corresponding tumble in the stock market, has put pressure on Congress to act.
Under the parameters of the new law that Obama signed, the supercommittee must vote on its findings by Nov. 23. Lawmakers then have a month to review it, and vote on the debt-reduction provisions by Dec. 23. The bill cannot be amended and is not subject to a filibuster.
Interestingly, the White House will not be at the table. The only way the administration will get a vote on the proposal is if Vice President Biden is called on to cast a tie-breaking vote should the Senate split 50-50. Obama does have the right to veto the bill.
But by and large, the ball is in the hands of a very unpopular entity. A recent poll by The New York Times and CBS found that disapproval of Congress is at an all-time high. That makes incumbents from both parties very nervous about losing their jobs, and fear is a great motivator.