By Miriam Raftery
November 23, 2011 (Washington D.C.) – The Congressional budtet “super committee” charged with reducing the deficit by $1.2 trillion over the next 10 years failed to reach a deal by Monday's deadline. This sets in motion triggers forcing automatic deep cuts starting January 2013 in Defense spending and social programs including Medicare, Social Security, veterans’ benefits and food stamps.
The six Republicans on the 12-member committee demanded spending cuts in domestic programs listed above and sought to extend Bush tax cuts. Democrats wanted to raise taxes on millionaires, minimize cuts to social programs and add stimulus spending aimed at creating jobs while off-setting costs with savings from ending the Iraq War.