The clock is ticking on Capitol Hill, where lawmakers on a "supercommittee" designed to make cuts from the government's budget are having a hard time reaching an agreement. If they don't decide on a plan for how to bring down the national debt by November 23, automatic cuts will go into effect that will impact many federal organizations.
Members of the supercommittee are at odds over whether to raise taxes on the wealthy to generate additional revenue for the government. Democrats say tax cuts put into place by the Bush administration should be allowed to lapse for those making more than $250,000 per year, while Republicans are against raising taxes while the U.S. economy is still suffering.
Analysts say there isn't much hope the two sides will reach an agreement, meaning automatic spending cuts would go into effect in 2013. However, those cuts are a ways off, so some experts say committee members don't feel a great sense of urgency about reaching an agreement - they are more likely to accept a stalemate and hope the issue can be solved before 2013.
Note: The first two minutes and 30 seconds of this video is an overview of the latest supercommittee negotiations, while the rest is a discussion about what might happen if the committee fails to reach an agreement by the Nov. 23 deadline.
Quotes
"We are painfully, painfully aware of the deadline that is staring us in the face. We have 12 good people who have worked hard since this committee has been created to try to find sufficient common ground for an agreement." - Rep. Jeb Hensarling (R-Texas)
"Where the divide is right now is on taxes and whether or not the wealthiest Americans should share in the sacrifice that all of us have to make. That's the decision. It's what we're waiting for. I remain hopeful." - Sen. Patty Murray (D-Wash.)
Warm Up Questions
1. What is a budget? Who makes budgets, and why?
2. What is debt?
3. What is Congress? How does it work, and what is its role in government?
Discussion Questions
1. Why do you think members of the supercommittee are unlikely to reach an agreement without a sense of urgency? How might the upcoming presidential election affect their mindset?
2. Whose side of the argument over how to address the national debt do you most agree with, Republicans' or Democrats'? Why?
3. Read these students' reflections about how to address the national debt. Who do you most agree with? Disagree with? Why? How do you think the debt crisis should be solved? https://www.pbs.org/newshour/classroom/speakout/us/july-dec11/debt_11-18.html
Additional Resources
Budget ‘Super Committee’ Headed for Failure
