Last week the congressional super committee discussed the large decisions they have ahead regarding spending cuts.
At its fourth public meeting, the 12-member panel heard testimony from Congressional Budget Office director Douglas Elmendorf and debated discretionary spending, which includes defense and education and excludes mandatory outlays for Medicare and other programs.
With the fast approaching deadline of at least $1.2 trillion in savings by November 23, the committee has their work cut out for them.
Recommendations have flooded into the supercommittee, including from the defense industry, oil and gas interests and other industries and interest groups. On Tuesday, a defense industry-backed analysis showed that more than 1 million U.S. jobs could be destroyed by cuts to the defense budget if the supercommittee doesn’t meet its target and automatic cuts kick in.
While it is a tough topic of decision, it is one that needs to be addressed, and it is better done sooner than later. Do you think they will be able to make any substantial cuts by their deadline?