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 ReidOvernight Finance: Four days until government shutdown | Conservative group bucks spending bill | DOJ, Treasury crackdown on North Korea Reid blasts GOP senator over Flint 'hostage' comments Trump aide departs amid scrutiny of Russia ties MORE (D-Nev.) and Minority Leader Mitch McConnellMitch McConnellOvernight Finance: Four days until government shutdown | Conservative group bucks spending bill | DOJ, Treasury crackdown on North Korea Reid blasts GOP senator over Flint 'hostage' comments Google backs Obama's internet transition plan MORE (R-Ky.) and House Speaker John BoehnerJohn BoehnerRepublican Study Committee elders back Harris for chairman Dems to GOP: Help us fix ObamaCare The disorderly order of presidential succession 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 RyanReid to media: Call Trump a racist RNC chairman: Trump is prepared for debate after 14 'Apprentice' finales Dem slams House waterways bill over splash parks provision MORE (R-Wis.) and Sen. John KerryJohn KerryUS to consider removing Colombian rebel group FARC from terror list Kerry fires back at McCain: I'm not 'delusional' The Yulin Dog Meat Festival: an abomination worth our attention MORE (D-Mass.) could agree to a massive deficit-reduction plan. Could Rep. James Clyburn (D-S.C.) and Sen. Orrin HatchOrrin HatchInternet companies dominate tech lobbying Senate panel approves pension rescue for coal miners Overnight Tech: GOP says internet fight isn't over | EU chief defends Apple tax ruling | Feds roll out self-driving car guidelines | Netflix's China worries 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 MurrayDems call for better birth control access for female troops US wins aerospace subsidies trade case over the EU Senate Dems unveil new public option push for ObamaCare MORE (D-Wash.), Max BaucusMax BaucusChina moves to lift ban on US beef Overnight Healthcare: Zika fight stalls government funding talks | Census finds big drop in uninsured | Mental health bill faces wait Glover Park Group now lobbying for Lyft MORE (D-Mont.) and Kerry. BoehnerJohn BoehnerRepublican Study Committee elders back Harris for chairman Dems to GOP: Help us fix ObamaCare The disorderly order of presidential succession 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.