Signs of pessimism in Washington, over Congress’ inability to reach a deficit reduction agreement in the next seven days, includes this from Politico.com:
Supercommittee co-chairman Jeb Hensarling (R-Texas), speaking bluntly to a closed House Republican meeting Tuesday said any deal that the panel produces will either be an “abject [failure] or a ‘kiss your sister agreement.’”
One assumes that [failure] is something unprintable. On the other hand, green sprigs of hope include the decision by U.S. Sen. Tom Coburn, R-Okla., to release a 37-page report this week critical of government subsidies for wealthy Americans.
He called it “Subsidies of the Rich and Famous.” From the Associated Press:
The report found that in an average year, those earning $1 million or more each year benefit from tax breaks and federal grant programs totaling $30 billion. His report noted that in tax year 2009, nearly 1,500 millionaires paid no federal income tax.
Among the government subsidies cited in