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Wednesday, November 02, 2011
Senate Finishes Fiscal 2012 Budget
The Senate has taken a stab at finishing the fiscal 2012 budget, passing a $182 billion bill to cover transportation, NASA, housing subsidies and the FBI. The bill combined three separate appropriations bills into one. Senators must still negotiate with House members on a final version. The move comes as both chambers await the outcome of the Special Joint Committee on Deficit Reductions. Yesterday Erskine Bowles, co-chair of President Obama's deficit reduction commission, had harsh words for the committee. He openly doubted the six Democrats and six Republicans could agree on anything by their Nov. 18 deadline.
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Obama should have charged forward with the original Bowles deficit proposal and said to hell with his party and republicans. But alas I guess this is not how politics work.
I doubt the commission will do much when you have dum dum partisans on one side who still think "tax cuts = job creation" despite all the data to the contrary and dum dum partisans on the other side who think we can just tax the rich all day to pay for ss, medicade, and medicare.
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