Budget and Farm Bill Issues
Josh Gerstein reported yesterday at Politico that, “The supercommittee’s failure may have unleashed a round of doom and gloom over the past week about Washington’s ability to tackle the debt problem. But Sen. Chuck Schumer (D-N.Y.) struck a sunnier note Sunday, saying he believes Republicans and Democrats could agree to a major deficit-reduction package next year.
“‘We have a good chance of actually getting the big package, big deficit reduction in 2012,’ Schumer said on NBC’s ‘Meet The Press’, repeatedly billing his own analysis as ‘a contrarian view.’
“‘The knives … are over our heads. The Bush tax cuts expire in 2013. Sequestration goes into effect in 2013. Now that seems a year and a month away, but as we get closer and closer and closer, the pressure on both parties to come together in the middle — provided we don’t remove one of those knives, like taking defense off the table — is going to be stronger and stronger,’ Schumer said.”