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News Link • Economy - Economics USA

What happens if deficit super committee fails? Maybe nothing.

• ChristianScienceMonitor.Com
If the super committee fails, will there be any real consequences? Or will a future Congress take one look at the draconian automatic cuts set to take hold in 2013 – $600 billion to defense, $600 billion to entitlements – and say, no way.

That’s the latest rumor in Washington this week, as the 12-member joint deficit reduction committee struggles to find a $1.2 trillion package of cuts that can pass the panel and the Congress.

What if they fail – and nothing happens? After all, the automatic cuts kick in after the 2012 elections – when a new Congress will be in Washington. Will that Congress feel bound by the decisions of the previous Congress?

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