WASHINGTON (AP) — Gridlock, as much as it's derided, may be the best outcome for the elderly, health care providers and poor people in this fall's fight over further deficit cuts.
A new congressional supercommittee, split evenly between Democrats and Republicans, has until Thanksgiving to propose a gargantuan $1.5 trillion in budget savings over 10 years. Every federal program and tax is a potential bull's-eye for the panel.
If it doesn't produce such a package, or Congress doesn't pass its plan by Christmas, up to $1.2 trillion in spending cuts would be automatically unleashed on hundreds of programs. It's meant to be a scary prospect, but it doesn't threaten everyone.
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