Panel Is at Impasse, but Obama Sees No Reason to Step In
By JACKIE CALMES
NYT
WASHINGTON — The White House’s expectations for the special Congressional committee on deficit reduction, never high, have been all but dashed now that the panel has reached a partisan impasse less than two weeks before it is supposed to recommend a compromise plan.
For administration officials, the prospect of the committee’s failure reinforces the decision early on for President Obama to keep his distance, focus on his jobs plan and avoid the sort of prolonged debt-limit fight with Republicans that dragged down his approval ratings last summer.
Starting Friday, Mr. Obama literally will be far away — traveling abroad for meetings with leaders of Pacific nations and returning just four days before the panel’s Nov. 23 deadline.
Yet the potential failure of the committee to agree to $1.2 trillion in 10-year savings also raises the question of what happens next, a question fraught with economic risk in the short term, notwithstanding the automatic cuts of an equal amount that would occur in 2013.
(More here.)
NYT
WASHINGTON — The White House’s expectations for the special Congressional committee on deficit reduction, never high, have been all but dashed now that the panel has reached a partisan impasse less than two weeks before it is supposed to recommend a compromise plan.
For administration officials, the prospect of the committee’s failure reinforces the decision early on for President Obama to keep his distance, focus on his jobs plan and avoid the sort of prolonged debt-limit fight with Republicans that dragged down his approval ratings last summer.
Starting Friday, Mr. Obama literally will be far away — traveling abroad for meetings with leaders of Pacific nations and returning just four days before the panel’s Nov. 23 deadline.
Yet the potential failure of the committee to agree to $1.2 trillion in 10-year savings also raises the question of what happens next, a question fraught with economic risk in the short term, notwithstanding the automatic cuts of an equal amount that would occur in 2013.
(More here.)
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