Watch out, Congress. There is a new committee in town. And this one is "super."
The super-committee's mission: Create a plan before Thanksgiving to cut $1.5 trillion in federal spending over the next decade. The cost of failure: Automatic $1.2 trillion in cuts to defense and discretionary spending. The likelihood of success: unknown.
Bi-partisan commissions similar to the one created by the recently passed debt ceiling extension are nothing new on Capitol Hill. In fact there have been more...Full Story