Tag: Debt Deal
Laughing at debt deals and super committees
August 8, 2011Liz Beaulieu, Editor
Lawmakers last week passed a debt deal that allowed the government to keep paying its bills under one condition: That $1.2 trillion be shaved from the budget deficit by Thanksgiving. (Now there's a reason to give thanks!)
So who's going to be doing the cutting? A 12-member so-called “super committee.” And what happens if they fail? Here's where it gets interesting.
If the committee fails, or if it comes up with $1.2 trillion in savings but it fails to get support from its colleagues or...