IPFS News Link • Economy - Economics USA
What happens if deficit super committee fails? Maybe nothing.
• ChristianScienceMonitor.ComThat’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?