WASHINGTON (AP) — The special panel's goal is lofty: concoct a deal both parties will embrace to slash federal deficits by a mammoth $1.5 trillion or more over the next decade.
Yet from the moment House and Senate leaders appoint the 12 members until the 2012 elections, hurricane-force political pressures are going to make it tough to produce anything substantial.
All sides will fiercely defend core priorities, Republicans opposing tax increases and defense cuts and Democrats protecting benefits for Medicare, Social Security and Medicaid recipients. Those happen to be exactly where nonpartisan analysts say savings must occur for any serious deficit-cutting package to emerge.
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