A Congressional Court of Bankruptcy

Queue them up: The FAA, The Post Office, Jerry Brown's Medicaid, defense program cancellation, then hordes of agencies, debt coverage of the second dip. And municipal re-ratings.   Finished by July 2012, in time for the next debt limit adjustment.
Bankruptcy Board:

WASHINGTON—Senate Majority Leader Harry Reid announced Tuesday he's naming Sen. Patty Murray to co-chair a powerful "super committee" charged with finding more than $1 trillion in deficit cuts this fall.

Murray will be joined by Sens. John Kerry, D-Mass., and Max Baucus, D-Mont., on the panel, which was established last week by hard-fought legislation to increase the national debt.
  Boston