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The Super Congress Failure Could Crush Stocks Even More

    • A group of 2nd graders would do a better job than these clowns. I'm not voting Democrat or Republican next year, I'm voting against whoever is in office. This will be one of the worst elections in history for incumbents.

    • Can we please get everyone out of congress who does not understand the present state of affairs. We blew a golden opportunity to attract trillions in capital to the US by screwing this up FOR THE SECOND TIME. Europe is falling apart and people are begging for somewhere to put their money. If we have a solid plan together foreign gov's would buy treasuries hand over fist driving down the governments borrowing costs and making it easier to fund our deficit. We'd cut a few hundred billion in interest payments and could stretch them out longer term. Instead our leaders are playing politics. The solution here is simple. Republicans need to give up this tax hardline and democrats need to stop making this a welfare state. Capital needs to go where it will produce the highest and best use for society as a whole. This does not mean giving it to retiree's and the unemployed and also does not mean it's a trickle down economics thing. The money needs to flow through to people who will use it to create businesses. Tax breaks need to be given to those who need them most. The younger generation is drowning in debt and has no net worth, no decent prospects of changing this and no one looking out for their interests. The older generation screwed up and doesn't need to be bailed out. You guys had your chance and $h!t the bed. Our generation is more advanced, more educated, and more informed (thanks internet). We've also all been in debt (Thanks student loans) and are more capable of dealing with reality then the present group of so called leaders we have. Baby boomers beware, the revolution is already started (thanks OWS) and you are not gonna like what we do when we get into power. I'm tired of watching these idiots ruin our country.. Give me and twenty of my old law school buddies the reins and we'll put the train wreck back on track. The only way forward is to take the pain now and then move on. Rebuilding can't start while we are still hamstrung to the past. Do your job or get out of the way of those of us who know what needs to be done. Higher taxes, lower social safety net and an across the board 40% cut for all of congress, judicial, and executive branches. Every lil bit helps so stop with the BS now. Congress got 3 raises since bush came into office and the economy has been tanked. Screw the 1% and screw the 99% too. We are all in this together, corporations included since they are people. We need tort reform, campaign reform, and lobbyist reform. The tax code is fine if enforced, although bush's cuts need to go. The the 1% of the 1% has 50% of the benefit from those ill conceived rules and none of that money will ever see the other 99.9%. While we are on the subject, how come student loan debt interest deduction has a maximum when financial idiots who over stepped on their mortgages can write off the whole amount? Another way the lil guy gets screwed for trying to chase the american dream. Education reform is needed big time as schools crank out useless drones instead of qualified workers. Our rich are failing us. Stanford, Carnegie, mellon, rockefeller, etc.... all left a legacy of things that would better our society and country. Guys like gates and buffet are too worried about other countries. Slim down in mexico, hell even pablo escobar knew that your excess should help your own people when they are hurting. Let the millionaires and billionaires of africa, asia, and europe take care of their own. Buffet's right on taxes, but wrong on how he should use the money he has made.

    • Don't mandatory spending cuts take effect if the committee fails in its objectives??? What need is there for additonal downgrades if the spending cuts (at least in volume) are assured?

    • Its time that the American People demand the resignations of those that cannot do their jobs. Everyone on this supercommittee should be forced to step down. They are not working for the people. They are working for those that fill their allready fat pockets.

    • They are doing this because they really BELIEVE they are representing their constituents. The Republicans will not raise taxes, even though they are the lowest they have been in two generations. There will be more money lost in ONE WEEK of this economic downturn than all of the taxes would have raised in the next five years, but they simply do not care. The superrich have NEVER seen what is in their own long-term interest. If they pay high taxes and the working class gets some money in their hands the rich will prosper, as they did under Clinton. They were NEVER happy under Clinton, as they truly feel it is their birthright to have it ALL. They will now have that, but it will still be a smaller portion. Under Eisenhower the top tax rate was 93%, and it was not even discussed much in political campaigns. Grover Norquist and his no-nothings will destroy the economy and the hopes of every worker, but he is being paid by the likes of the Koch brothers, and he, like all fanatics, can not see the damage he will cause. We need spending cuts, which includes the military, and tax raises to save ourselves. The tea partiers who shout "STOP SPENDING!" as if that is the total solution do not realize that we would have done that on a bipartisan basis years ago if it was that simple.

    • Well, who didn't see this coming the day the named the panel?

    • Everybody in Congress and the White House needs to go. If you worked for any corporation and failed to do your job, you would be replaced, no matter how hard you worked. Results count, not ego's

    • How many members of the committee--and of Congress--benefit personally from this? The WSJ should be checking portfolios.

    • I completely agree with the other two comments. If they hold office now fire their a$$es. Anybody but the person in office should be America's rallying cry in 2012. Fire them all and the message will be clear and neither Democrats or Republicans will be able to claim that the message was anything but what it is. You're all fired and to the next group the message will be don't sign a long-term lease on your Washington residence!!!!

    • When the debt limit deal was done in July there was already a definite bias toward cutting - not taxes. The demos know this. They just defaulted on $300BB in revenue increases the repubs were willing (at some political cost, I might add) to throw in the mix.
      The real disappointment is that the commmittee didn't actually deal with a much larger number than $1.2TT.
      I say to them: Republicans - give the dems at least $500BB for a $2.5TT deal over ten years. Otherwise, you're gone in 2012!
      Chad in CO

    • Already priced in. Do you think anybody actually thought that Congress or any super committee would get anything done? I don't know anybody that does. These guys are all toast and getting voted out. That is what people expect. As I said the failure to come to agreement was already priced in after the original stalemate. US citizens now expect Congress to do nothing until the next election when they are all voted out.

      Everyone I know including myself is just going right down the line and voting out every incumbent, period. We are not even going to look at the names. If you are an incumbent then you are out.




    • Sure! "the markets" expected these guys to solve the deficit problem WHILE cutting taxes and maybe awarding a subsidy to investment bankers and money managers. C'mon man! NOBODY had ANY expectations. Markets are down because Europe is on a death-spiral, the US housing mkt is dead and nobody knows what to do about it.

    • Maybe it's time for our own "Middle East Spring". Kick them all out, from the President on down. Clear out both sides of the isle. We won't be any worse off then we already are.

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