Super Committee Braces For Failure, Preps For Fallout

Democrats and Republicans are gearing up for a political showdown following the seemingly inevitable collapse of super committee negotiations.

Though the 12-member panel technically has until Wednesday to reach an agreement on a deficit-reduction package, a potential deal must first be reviewed by the Congressional Budget Office and be made available to the committee for two days prior to a vote, making Monday the effective deadline.

Democratic and Republican members of the super committee took to the airwaves over the weekend to prepare the nation and Congress with an approaching truth; the bipartisan, bicameral unit has failed to reach an agreement.

“From the Democratic side, it was the same thing. Raise taxes, pass the presidnet’s jobs bill, no entitlement reform,” said Sen. Jon Kyl (R-Ariz.) on NBC’s “Meet the Press. “On the Republican side, you had the one true breakthrough and that was this new concept of tax reform which could generate revenue from upper brackets.”

Democratic Sen. Xavier Becerra (Calif.) countered on “Fox News Sunday,” arguing that the concession made by Republicans on revenues was of little significance.

“Remember, we have 1,400 multimillionaires in this country who didn’t pay a single bit of income taxes in 2009. Why should they escape participation when we’re akin seniors to help cover the costs of deficits… that the didn’t even cause?” he said.

Aides close to the negotiations admit that, as unlikely as it may be, a last minute deal could still make its way to the CBO before the end of the day.

“I’m at the table,” said Sen. Patty Murray (D-Wash.) on CNN’s “State of the Union.” “I want to solve this. I know Americans want us to solve this. I remain hopeful that someone on the other side will say, this is too important to fail.”

Despite the potential for a last ditch effort to reach an agreement, partisan finger pointing has already begun within the 12-member panel as Democrats blame Republicans for digging their heels in the ground on taxes and Republicans have charged Democrats with being unwilling to put entitlements on the table.

“On the other side, there was an insistence that we have a trillion-dollar tax increase [and] and unwillingness to cut any kind of spending at all unless there was a huge tax increase,” said Sen. Pat Toomey (R-Pa.) on CBS’ “Face the Nation.”

If, in fact, the super committee does announce failure Monday, a series of automatic cuts would shed $1.2 trillion from the deficit over ten years which includes a big chunk from defense spending. Republicans will attempt to alter the required cuts so as to lessen the impact on the nation’s defense system, but according to reports, Democrats will block this move unless the GOP allows the Bush-era tax cuts to expire for the wealthiest Americans.

Obama Urges Senate Republicans To Drop Small Business Bill Filibuster

Describing them as a “partisan minority,” President Barack Obama urged Senate Republicans Tuesday to lift the fillibuster on legislation aimed at helping small businesses receive loans.

“There will be plenty of time between now and November to play politics, but the small business owners … around the country don’t have time for political games,” Obama said during brief remarks at a Seattle Bakery. “I ask Senate Republicans to drop their efforts to block it.”

The Small Business Jobs and Credit Act will provide a $30 billion fund for community banks to spur lending at the local level.

Obama was in the Washington city to campaign for Sen. Patty Murray (D-Wash.), who is facing a primary vote Tuesday evening.

Reid: Financial Reform Could Hit Senate Floor By Next Week

By Laurel Brishel Prichard University of New Mexico/ Talk Radio News Service

Senate Majority Leader Harry Reid (D-Nev.) told reporters Thursday that he is pushing to get a full financial reform bill onto the Senate floor as early as next week.

Reid, along with Senate Majority Whip Dick Durbin (D-IL), Sen. Patty Murray (D-WA) and Sen. Charles Schumer (D-NY) stressed that reform of the nation's financial system would not only protect the taxpayers, but make sure that institutions would not become “too big too fail”.

“[Republicans] seem clearly focused on protecting these big banks,” said Reid “It’s as simple as this: if you want a financial system that allows banks to become too big to fail, puts your retirement security in jeopardy and leaves consumers vulnerable to excessive risk, then you should support the Republican plan.”

The legislation would put in place a better regulatory oversight program to prevent the financial system from triggering another recession.

“Everyone agrees that our regulatory [system] is broken down,” said Schumer.

Schumer added that Republican warnings that the reform plan fails to act as a safeguard against future bailouts is unfounded. According to the New York Senator, the money that would go for any future bailout of a large institution would have to come from the institution itself, and not the taxpayers.

Doctors, Senators Push For Cure To Health Care System

By Courtney Ann Jackson-Talk Radio News Service

Doctors from around the country visited the U.S. Capitol Thursday to promote health care reform and to present their diagnoses on the current health care system.

“We are too close to achieving health care reform to stop now,” said Dr. Jim King, a family physician. “Family physicians cannot understand why we would ever want to continue a health care system that reduces productivity, accelerates costs increases and promotes inefficiency. Why would this status quo be acceptable to anyone?”

King said health care in this country will deteriorate greatly if Congress doesn't produce a system that works for everybody.

Sen. Dick Durbin (D-Ill.) issued a diagnosis of his own, saying, “Our health care system is chronically ill. It cannot survive as it currently exists.”

Sen. Patty Murray (D-Wash.) said both the doctors and the American public know that the nation needs reform. Sen. Charles Schumer (D-N.Y) agreed, but noted that Congress can’t be expected to snap its fingers and have it done. Rather, real change will take time, he said.

Senate Majority Leader Harry Reid (D-Nev.) said he believed the media had created a false deadline for getting legislation passed before the August recess. Reid said he wants the bill passed before the end of the year.

Reid added that his focus is working on coming up with enough votes in the Senate to override a filibuster.

“I’m pretty good at arithmetic. I know how to count to 60,” he quipped.

Senate Democrats Put Family Focus On Health Care

By Courtney Ann Jackson - Talk Radio News Service

The health care debate has taken on many angles, but today the focus of Democratic leaders in the Senate was on uninsured families. Senate Majority Leader Harry Reid (D-N.V.) welcomed two families directly affected by health care issues to a press conference Thursday to represent the many families being affected everyday.

“Our opponents aren’t talking about the real families and the real problems these families have,” said Reid. “Reforming health care is not abstract because health care is not theoretical...It’s about people, real people.”

Reid was joined by Sens. Dick Durbin (D-Ill), Patty Murray (D-Wash.) and Charles Schumer (D-N.Y.). The Senators noted that the families in attendance know the real costs of health care due to personal experiences. Reid repeated the phrase, “we’re talking about people,” multiple times in his opening statement.

Murray said she's asked constituents in her home state to share their personal stories about health care and why they feel health care reform is needed. So far, she said she's received over 5,000 e-mails in two weeks.

Murray highlighted the need to control the costs for family health insurance, noting that people with quality health insurance are paying more in premiums because the system as a whole does not cover everyone.

“Overcome the obstacles and get something done. We have to get something done,” said Schumer. “The system just isn’t working or it’s getting to the point that it won’t work in the next decade.”

Durbin said stories about ordinary Americans losing health insurance are not uncommon because 14,000 people lose health care everyday. He said that if nothing is done now, the problem won’t just go away, and that’s why health reform must happen this year.

The Senators said they will give the legislation more time so that Republicans who oppose the plan can review what Reid described as a “complex difficult issue." They said they would continue to work on the bill when they return from recess in the fall.

“I’ve had conversations with them [Republicans] and I’ll have future conversations to give them assurances that we’ll take everything they do and we’ll do what we can to make sure their issues aren’t buried,” said Reid.

Reid expressed confidence that all 60 Democrats in the Senate are prepared to vote for the legislation.