Out Fox The $treet

Or at least that appears to be the path this great Super Committee has taken. Tasked with figuring out the best way to cut the federal deficit over the next 10 years, and the group can't come together on anything substantive. Seriously? The federal deficit just reached $15 trillion and out great Congress can't figure how to slow spending over the next 10 years. Yes that's correct, the committee isn't even attempting to cut spending. It just wants to reduce the growth of spending. Possibly cut some stuff already planned to increase, but not actually decrease spending. Without cutting back on spending, we're playing the dangerous game of relying heavily on growth to cut the annual deficit. Grow revenue faster than spending and the deficit begins to shrink. Naturally Democrats want that 1% to pay more taxes that would grow that revenue, but that isn't assured to work as it might just reduce growth. Still, I'd probably be inclined to implement some tax inc...