The [Super Congress] panel, whose work has taken on greater urgency since Standard & Poor’s downgraded the U.S. credit rating, is already facing doubts about whether it can meet a Nov. 23 deadline for a plan and head off a round of automatic, across-the-board spending cuts. It includes six Democrats who back tax increases and six Republicans who signed a pledge to oppose that. Few have engaged in bipartisan efforts on major issues; 11 of the 12 have voted with their party at least 90 percent of the time. Bloomberg
I am still in favor of formal bankruptcy, since democracy is no longer an issue.
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