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Rep. Barney Frank: Why Super Committee Failure is a Win for Democrats
Current TV / Interview
Published: Wednesday 23 November 2011
Rep. Barney Frank and Keith Olbermann talk about the Super Committee’s deadline failure and what it means for Democrats.
Keith and Rep. Barney Frank of Massachusetts, ranking member of the House Financial Services Committee, analyze the potential outcome of the bipartisan congressional super committee's failure to reach an agreement on how to reduce the deficit. Frank says the programs for the poorest people in the country are protected and the Bush tax cuts are still set to expire.
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By Tara Culp- Ressler
21 comments on "Rep. Barney Frank: Why Super Committee Failure is a Win for Democrats"
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November 24, 2011 11:32am
Franks claims it protects the poor and the Bush Tax cuts will expire, yet you have members already working on how to get around the deal they made in September of the triggers. There is nothing protected when you have a Congress only concerned with lining their pockets and controlled by money, not the people. If we had a president with any balls, the Bush tax cuts would of ended two years ago as originally set.
November 24, 2011 1:25am
It is almost as if the Democrats had the foresight to "snooker" the Republicans into this mess in the first place. The constant refusal of the Republicans to offer any sane solution, while insisting that the deficit was the main problem and not jobs, put them at odds with fully two-thirds of the citizenry. While the nation seems focused for now on the almost constant Republican debates (and really... has no one ever seen a real debate. To call these debates is itself a travesty), the eye of the public will soon turn towards actual national campaigns which can only fully reveal the weakness of the Republican position. We, the people, are not all nuts! Perhaps the Democrats are awakening from their dream of compromise and now fully realize that there IS NO chance of compromise with those who hold such extreme positions which contravene the wishes of the vast majority of the electorate.
November 24, 2011 8:52am
I guess Obama is a lot smarter than Republicans give him credit for... They think he's inexperienced and naive, and thought they could bully him into accepting a deal.
If Obama holds out on not letting Congress change the terms of the deal, then he will make as much progress on deficit reduction as Clinton did. Let's just hope we don't get another Bush to squander the gains anytime soon...
November 23, 2011 11:01pm
Somehow this feels reminiscent of the 60's: peace vs. war. I align myself with the 'hippies', albeit without the drugs. Here Here. Life, liberty, justice, truth, and the pursuit of happiness.
November 25, 2011 5:41pm
Don't forget" Free Love" or my favorite" If you're not with the one you Love Love the one your with"
November 23, 2011 2:48pm
If corporations are indeed individuals with the attendant rights and responsibilities, why aren't they paying income tax at the individual rate?
November 23, 2011 4:45pm
Because they aren't individuals with the attendant responsibilities, only the rights. They are, in effect, super-people. They have none of the legal or social obligations to be moral or ethical, as they would if they were normal human beings. Unlike you or I, mere mortals, their status of super-people also gives them the rights and ability to buy the influence needed to impact their own tax rates.
A corporation has, by law, only one responsibility. That is, to maximize shareholder value. Anything they do contrary to that edict can only be defended on the grounds of legality. Ethics or social responsibility can not be used as a defense to any action that conflicts with their overarching goal of maximizing shareholder value. Corporations are chartered and legally bound to act as sociopaths.
If a corporation could maximize shareholder value by poisoning your children, absent any law to the contrary, they MUST poison your children or be prepared to defend themselves in a shareholder suit. Absent a law against poisoning children, they could only use "loss of customer goodwill, resulting in negative earnings" as a defense to their decision not to kill your children. This is why people who claim that corporations are too heavily regulated are dead wrong. Regulations are the only valid defense any corporation has if it decides to forgo potential profits that might otherwise be realized by acting with reckless disregard for humanity or the environment.
November 23, 2011 2:36pm
I'm glad to see that the dems finally stood up and held ground on something. They have been an embarrassment up until now. Also, .....Why don't some notable dems jump in front of the Occupy Wall Street movement to give them some leadership and focus. I'm tired of seeing idiots interviewed as spoke persons for the movement. It looks like it would be a win-win for free campaigning.
November 23, 2011 4:14pm
They better get in there and support this OWS movement. Or they may find a rope around there necks to.Gaddafi syndrome does not recognize political parties ,they only recognize right thinking and fair and just actions. We have not seen much of that from these democrats. I advise them to support OWS with money and actions and leadership. I also advise them to get honest and work to make our government honest now. .
November 23, 2011 1:53pm
I'm glad to see that the democrats finally stood up and held ground on something. They have been an embarrassment up until now. Also, .....Why don't some notable democrats jump in front of the Occupy Wall Street movement to give them some leadership and focus. I'm tired of seeing idiots interviewed as spoke persons for the movement. It looks like it would be a win-win for free campaigning.
November 23, 2011 1:36pm
frank is correct demo get massive defense cuts and tax raise that is why they would not compromise
November 23, 2011 1:23pm
Democrats and Republicans are both representing the 1%. The 99% has no representation in the decision making tables: The Supercom. failed because they could not agree on how to skin the 99%. One side wants to cut through the bones, the other says, stick with the current cuts because everything else is already taken from the body politic by the 1%. May THE FORCE save us from the 1% and its representatives.
November 23, 2011 8:08pm
Reply to Norman Allen:
False equivalency. The Democrats stood up to the cuts BECAUSE of the OWS and the 99%, not in spite of. SS, Medicare, and Medicaid were protected by the failure of the Supercommitte, and the Bush tax cuts will expire, thus increasing revenues.
November 23, 2011 4:17pm
Force is the only thing that will do the job and it is coming soon. Support is the main thing now so this can take root and get big.
November 23, 2011 1:04pm
Republicans have clearly showed they have no concern for the overall well being of the United States and only wish to line their pockets with corporate hand-outs.
November 25, 2011 5:46pm
A secret just between you and myself. We don't care about clean water or air or jobs because we live on a secret island separate from the tainted water and poisoned air.
November 23, 2011 4:19pm
Republicans are working with corporations to overthrow your nation ,the sooner people realize this the better it will be and the sooner we can block the right wing GOP actions and the corporation steal.
November 23, 2011 11:47am
YES Dem in the Committee said NO GOP will not end huge corp cuts - subsides loopholes.. They rather gut education disabled .. mentally ill. old sick on medicaid who spent all they had and live in nursing homes . How greedy -devious Breaking Obama is # ! goal for GOP Jobs - Economy ? who cares ?
November 25, 2011 5:50pm
Diane you're a tool and don't even know it. In fact you have no idea whats the name of the game.
You just point an accusatory finger and the designated enemy and screech.
November 23, 2011 4:22pm
Everybody better care , because once this life style is gone it will not be coming back.People better get up and get moving on this now .War costs money and blood and you better be up to it or surrender.