It isnt known as the minicommittee.
Leaders from previous administrations, from across the political spectrum, from business and commerce have sent a letter urging the 12-member committee on debt reduction to go big.
Its a great idea. A chance like this doesnt come along every day in Washington, and it would be a real shame to think small at a time like this. The letter writers want the committee, a product of the 11th-hour deal that kept the nation from technically defaulting on its financial obligations, to reach for the stars, exceeding its stated task of cutting our long-term debt from $1.2 trillion to $1.5 trillion over the next decade.
They are suggesting that $4 trillion in debt reduction from a combination of cuts and revenues would set the nation on a more sustainable path.
This is a laudable goal. We can only hope that committee members heed the call to action.
The dozen panelists, equally split between the houses of Congress and the political parties, are supposed to come up with a proposal by Nov. 23.
Because a simple majority will suffice, there should be more than a prayer that the panel can work something out. If it does, Congress then has a month to pass the plan. If both dont occur, automatic cuts cuts that will please exactly no one will take effect.
The debt-reduction committee was given an exceedingly difficult charge from the first. No one ever said its work would be easily done.
People of all political stripes like to bemoan the lack of bipartisanship in our federal government. The so-called supercommittee has a golden opportunity to show the nation and the world that when officials put their heads together, important things can still get done.
The supercommittee has a chance to live up to its name.
