Wednesday, August 31, 2011
the real deficit: willpower
Howard Gleckman of the Tax Policy Center reports on a not-for-attribution gathering of budget experts where the consensus was that the supercommittee will fail, the sequester will be ordered, but Congress will somehow avoid its implementation. I agree with much of his analysis, but not his conclusions. I still expect the panel to reach an agreement close to its mandate, triggering at most a small sequester. I don't see the politics of 2012 allowing Congress to agree to anything less than the mandated cut levels.