Let the blame game begin. The “deficit” “reduction” supercommittee is expected to announce its failure this afternoon (after market hours) in a written press release. A fitting end for an endeavor that never really had a legitimate shot at success.
A memo distributed by House Speaker John Boehner’s (R., Ohio) office Monday accused President Obama of orchestrating the supercommittee’s failure from the beginning. “The President designed a political strategy that doomed the committee to failure first by insisting the committee include $450 billion of his failed stimulus policies in any agreement, making deficit reduction much harder and second by issuing a veto threat warning he would not accept an agreement that did not include a job-killing tax increase,” the memo states.
The coming Democratic rebuttal was previewed by supercommittee co-chair Sen. Patty Murray (D., Wash.) on State of the Union yesterday: “As long as we have Republican lawmakers who are more enthralled with a pledge they took to [anti-tax activist Grover Norquist] than a pledge they took to help solve the country’s problems, this is going to be hard to do.”