Now that all 12 members of the “Joint Select Committee on Deficit Reduction” (also known as the “Super Committee”) have been chosen, it is time for Democrats to think about how to approach the Committee and its work.
The Super Committee was established by the Budget Control Act of 2011, which was the deal negotiated by the President and Congressional Republicans whereby the GOP agreed not to destroy the economy in exchange for several opportunities to inflict pain on U.S. citizens in the future.
There is little we can do for now about the caps on discretionary spending in the deal, which—if allowed to proceed—will cut non-security discretionary spending (R&D, education, infrastructure, and regulation) to the lowest level since the 1950s. For FY2012 alone, the caps ensure a budget cut of $30.5 billion, thereby reducing U.S. GDP by $43 billion (0.3%) and destroying 323,000 American jobs.
By taking a smart approach to the work of the Super Committee, however, Democrats can:
1) Make the case for additional government action to put Americans back to work;
2) Prevent additional self-inflicted wounds to the U.S. economy in the short-run; and
3) Set up a clear choice for voters in 2012, hopefully leading to Democrats retaking power and limiting long-run damage to the economy and country.
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