Tag Archives: state banks

Super Congress in Session – More of the Cruel Charade

By Michael Collins


Wall Street and the big banks owe $1.5 trillion for the bailout (at least). The Super Congress needs to cut $1.5 trillion over ten years. Get the money from Wall Street and cancel the Super Congress. Problem solved.

Last month’s debt ceiling crisis was resolved when Congress and the Obama administration made a deal to cut trillions in federal spending over the next ten years. Congress identified the easy cuts, the low hanging fruit so to speak, for a total of nearly $1.0 trillion. At the same time, Congress and the White House created the “Super Congress” committee of six senators and six representatives charged with cutting another $1.5 trillion. (Image: Lucy White with permission)
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