The so-called "super committee" tasked with finding over a trillion dollars in budget cuts to trim the deficit has not so super news. Optimism waned late yesterday afternoon as the congressional super-committee on debt and deficits called it quits while facing a Wednesday deadline. The two sides are stuck on entitlement reform and tax hikes.
Republican Congressman John Shimkus ofCollinsvillelamented the finger pointing and the "blame game" in Congress.
Republicans want cuts in Social Security and Medicare, but refuse to consider tax increases on the wealthiest Americans. Democrats are unwilling to cut entitlements too deeply and are demanding tax hikes on the rich as a way to grow revenues. The lack of a compromise will mean automatic cuts will go into effect, slashing budgets for military and domestic programs.