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    OMB director to Yahoo: Super committee will forge a deal

    Remember the "super committee"? That's the bipartisan panel of lawmakers that Congress created over the summer, charged with figuring out how to cut at least $1.2 trillion from the federal deficit.

    But odds of the panel reaching accord on its ambitious mission have looked steep, to put it mildly. The group has a Nov. 23 deadline to deliver recommendations to Congress, and has largely been bogged down in partisan bickering. But Jack Lew, the director of the White House Office of Management and Budget, tells Yahoo Finance he's bullish on the prospect of an agreement.

    "It's still premature to say it's not going to get there. The fact that there's discussion and movement leaves me still more optimistic than most," Lew said in an interview with Aaron Task and Daniel Gross. "One way or another, I believe, Congress will act. It is a very important thing for confidence in our government's ability to make decisions for that to happen sooner than later."

    You can watch the interview below:

    Republicans on the committee have been reluctant to agree to any significant tax hikes--even on those making over $1 million a year--which has made progress difficult. If the panel doesn't forge an agreement before its appointed deadline, the cuts will occur automatically, but half will come from the defense budget, which several lawmakers on both sides can't stomach.

    "It was deliberately designed to be obnoxious to everyone. That's its power," Lews said. "Its saving grace is that it's bad enough that Congress will act."

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    • Carlton W  •  6 mths ago
      This is the same congress that refuses to limits its own personal involvement in Wall St trading when (just released from prison) Jack Abramoff stated there are several that practice insider trading. Could our political system be any more corrupt & dysfunctional ? So we figure that the only decisions they will make are for their own benefit without a thought of how it will effect "We the People" and we are supposed to trust them with these decisions.
      The line has been drawn in the sand and ALL political office holders must choose a side. Either they will support Banks/Wall St (and their own self interests) or side with the American People. I hope the upcoming elections see the largest turnover in the history of the US and the message will be loud & clear. Corporate, Media & Government Terrorism against "We the People" has run its course - Occupy - 99%
      • Allan 6 mths ago
        I was not shocked to hear it, but its pretty much par for the course. How do we stop this corruption? It seems unstoppable at this point
      • jplano 6 mths ago
        Yes, and President's are not allowed to receive income while in office....so, where are the proceeds from the BOOK going? Do you think a "CHARITY".......no, into a trust for when he leaves the office....has any other sitting president sold the wares while in office?
    • Tom  •  Columbia, United States  •  6 mths ago
      The committee's goal is not reach a decision so that the spending cuts are all from the DoD. Since only a very small percentage of our population serve or have served, this is a politically safe group to alienate. Both parties are afraid of enacting the real cuts that must come very popular programs like SS, Medicare, etc. Until the politicians make those cuts (and they will painful for all), we will continue to borrow each year until we just like Greece, Spain and Italy.
      • jim62 6 mths ago
        SS is paid for. its been paid for till the republicans stoled 2.5 trillion from it and dont want to pay it back. Bush gave tax cuts to his friends that this country did not have. It wasnt his money to give. Your a thief.
      • Alan 6 mths ago
        Obama gave trillions to his cronies ....
        ss is paid for and has nothing to do with the general fund or all the other socialist programs that are wasting money...
    • ralph mouth  •  6 mths ago
      You get the government you elect. As long as you keep voting for ideologues who refuse to consider actions that address the issues at hand because THEY don't like it, there will be little accomplished in Congess that addresses the real problems of this nation's people. At a time when we need leaders badly, we get mindless panderers to Party over the needs of Country.
      Where's the compromise? Effective Democratic government demands it.
    • Lloyd Morton  •  Youngstown, United States  •  6 mths ago
      I dont care which political party you are with, we all know this will be some gerrymandered agreement that gives them and the president cover, accomplishes little and will get great fanfare from the press. I think Shakespere wrote about it at one time and titled it 'Much Ado About Nothing'. This is not serious budgeting. This is not probem solving. It needs to be done on an ongoing basis with small agreements that add up. Why we have decided that 2000 page bills and super committees are the way to go is beyond me. How can we get excited about 2 trillion over 10 years when we are adding 1.5 trillion a year. we are only barely slowing the growth of the problem, if that, as many cuts will be in later years after this is forgotten. A balanced budget is half the solution and a limit on spending is the other. Balancing the budget is easy if you can raise taxes to cover increased spending. Limiting spending in a meaningful way is the first step followed by a balanced budget in a timely fashion.
    • JN  •  Schererville, United States  •  6 mths ago
      What's the difference between a communist and an american liberal democrat?
      Answer: A Communist loves his country, supports his military and will defend its borders.
    • Bob Loblaw  •  Union Grove, United States  •  6 mths ago
      Understand this - from 1992 to 2001 the federal government spent 16 trillion dollars,
      from 2001 to 2011 the federal government spent 28 trillion dollars, President Obama's budget for the next 10 years is 46 trillion dollars,
      the proposed Republican budget for the next 10 years is 40 trillion dollars. Where are the cuts again and where is this money going to come from? Now do you think the federal government has a revenue problem or a spending problem?
      • Bobby 6 mths ago
        Yes, the legacy of Republican free market capitalism and deregulation.
    • yahooyall!  •  6 mths ago
      Wall street securities firms made $83 Billion during the first two and a half years of Obama's presidency! $77 Billion during the entire 8 years of the Bush administration! Source: The Washington Post. Politicians will not vote on a balanced budget, deficit reductions or term limits. American voters need to vote every single politician out of office in every election so they will take it for granted there is only one term! C'mon America, let's make history! Pass it on.
      • bill gorden 6 mths ago
        We need to work on a balance budget amendment, and a campaign finance amendment -- eliminate those K Street lobbyists.
    • nowandthen  •  Bellevue, United States  •  6 mths ago
      Patty Murray on the super commitee? if there was no Boeing she could pound #$%$ in a rathole
    • William Fewox  •  6 mths ago
      I know it doesn't break the bank? But wouldn't it be a TREMENDOUS sign to the American Public if politicians took a paycut and stopped their own benefits? This isn't a left or right thing- both Democrats and Republicans gladly pocket a paycheck that is over four times the national average, and wallow in benefits until their dying day. I swear, the first politician to do this is going to get the living tar beat out of him by his colleagues- but he'd be voted in for LIFE by his constituents.
    • Ferd Berful  •  6 mths ago
      Our elected officials in Congress effectively abdicated their responsibilities by allowing this smaller group to formulate a plan. That being said, this group is just a microcosm of the larger body and I do not hold out much hope that they can agree on a deal. That will allow the automatic cuts to be applied and they can all deny responsibility due to the 'other party' refusing to compromise. That will give them the best chance to get re-elected, which is all they really care about anyway.
    • Guitar56  •  6 mths ago
      I don't know about all of you people out there, but I never voted for, nor even agreed in any shape, form, or fashion to have a hand selected group go behind closed doors, secret from the public, to meet about how to deal with the taxpayers hard earned money. If this isn't enough to wake up the people who refuse to see the absolutely corruption and crime that our oligarchy government had become, then it is as so so many say. We are finished as a nation of the people, by the people, for the people. RIP America, your citizens have fell asleep at the wheel and our nation has been fully taken over by the corporations and banks.
      • jplano 6 mths ago
        Everyone is frightened of losing their seat in the big house, including Obama. They want to postpone the Surgery until after the 2012 election.
    • Παρασ  •  6 mths ago
      They still need to consider leading by example and take a deep cut and pick up paying for their own benefits. Every bit counts.
    • GaryD  •  Boston, United States  •  6 mths ago
      Lets hope this guy is right. The American people however will certainly clean up this Congress in the next election. They like virtually no one. That is the plain truth. The ratings for this Congress are in, and they are in single didgits. All people have to see is a repeat of last summer & we will then be able to stick a fork in this Congress.
    • Greenstar  •  6 mths ago
      Another SORRY performance from congress. This sure says something about US as voters. We sent them there!
    • Ken  •  6 mths ago
      now yahoo has a direct line to the white house hmmm
    • mcshooter  •  Akron, United States  •  6 mths ago
      with this group making the most important deceision of our lifetime what do we need the rest of congress for.
    • Daniel  •  6 mths ago
      Cut spending...tax the thieves making +$500,000 at 75%...what's the issue?
    • B-Dodgers  •  New York, United States  •  6 mths ago
      It's just Super #$%$.. a super-punt by Obama and Congress.
    • Richard  •  Charlottesville, United States  •  6 mths ago
      As far as I'm concerned, it is too late to get any confidence in congress. Republican feet dragging, to make Obama look bad, at the expense of our country, is just plain old. No new taxes pledge to a lobbyist, is just plain old. Expecting all classes but the wealthy, to absorb hits, is getting just plain old. Continuing to spew dogma about job creators is getting old.. New attempts to screw lower income earners with flat taxes, is old. Psst, conservatives, if we wanted to live in China, we would move there; why don't you, join your fat cat masters over there, and stop trying to turn our society into an ecological nightmare and slave market? I suspect Obama is not a very good president, but how would I know? Compared to what I have seen in these debates, he is brilliant. His proposals probably wouldn't fix things, but they would make the times, less painful..again, who knows, republicans wont try, or allow anything, except the absolute failing policies that got us into this mess. Now they are talking warmongering again!!! Confidence in Congress? surely you jest! He is probably correct though; the dems, will likely fold, and sell us all out, to save defense, that most corrupt and bloated of govt activities. Govt cutting needs to happen, some social programs are silly, and need to go; however, these need to occur during decent economical times; not during a recession. furthermore, these cuts that need to be made, are paled in comparison to others that are not even being contemplated.We are wasting a load of money, but the bulk of the true waste is in the direction of wealth accumulation strategies. and in these wars of expansion. Neither dems, not pubs are considering serious cuts to either of these ideologies. I ran a business, as owner, for 30 years, so don't try that earning huge profits and capital consolidation #$%$ on me. It isn't necessary, and is counterproductive to sustained markets.Fair wages and fair profits, are good for each,over the long haul. As for environmental pollution, that is also a crock...sure, until you comply, they seem like a pain, but to our society (of which business is a part) they are worth it. Want jobs? Create demand, producers will appear. Free market will govern wages, prices, as well as profits...unless you continue to allow capital consolidation to manipulate everything for their short term gains.
    • QBB  •  6 mths ago
      DANG......BAMMA'S NAME IN ASSOCIATION WITH HIS SUPER COMMITEE IN A HEADLINE THAT SPEAKS OF A DEAL............ohhhh nooooo
      what this time another Stim bill DEAL.....more pages to bammacare, crashing clunkers, more solyndra slush funds, another sunsolar to Mexico? more car manufacturing to another country..........

      UNEMPLOYMENT GOES TO 10%, FANNIE AND FREDDIE FORESLOSE ALL HOMES THAT ARE A MONTH LATE TO PAY THEIR MILLION DOLLAR BONUS'S

      I know what would be a good deal if FLOTUS PAYS FOR CHANGING THE POOR CHILDRENS PALATE BY GIVING THEM ARUGULA AND STEAK........
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