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Turns out the over-hyped Congressional “Super Committee” wasn’t so super.
In fact, it was a dud.
The joint House and Senate committee, charged with coming up with a plan to overcome the government’s record $15 trillion debt, threw in the towel Monday and admitted it could not overcome partisan bickering and political divides.
The failure sent stock prices into the dumpster as the uber-secret committee dissolved into bitter, finger-pointing oblivion.
It leaves behind another Congressional legacy of failure, a monument to gridlock that symbolizes Congress and a political system unwilling to make the tough decision to solve an economic crisis.
“The end wasn’t pretty,” an aide close to the committee told Capitol Hill Blue. “Even the yelling died down.”
Yet, even in failure, the committee disbanded in a sea of spin.
“Despite our inability to bridge the committee’s significant differences, we end this process united in our belief that the nation’s fiscal crisis must be addressed and that we cannot leave it for the next generation to solve, said a formal statement from the committee’s two co-chairs — Sen. Patty Murray, D-Wash., and Rep. Jeb Hensarling, R-Tex.
Amid the spin, Murry and Hensarling admitted that “any bipartisan agreement is not possible.”
President Barack Obama immediately blamed Republican members of the committee for the failure, saying the party’s refusal to raise taxes on the wealthy doomed all efforts.
Republicans, Obama said, “simply will not budget from that negotiating position.”