[sickoflibs]

RE :”The statists saw this super-committee as a vehicle to seduce Republicans into a tax hike. They knew that some GOPers are perpetually gullible and would be susceptible to the siren song of a “balanced approach” – even though that inevitably means higher taxes and never-fulfilled promises of future spending restraint.
But they also had a back-up plan. They got Republicans to agree that there would be automatic spending cuts – known as sequestration – if the super-committee failed to produce an agreement. And they convinced GOPers that half of these automatic cuts would come from the defense budget, even though military spending is only about one-fourth of total federal spending.
The left figured that the threat of a military sequester would scare some pro-defense GOPers into supporting a tax hike. Maybe not as part of the super-committee deliberations, but perhaps as we got closer to January 1, 2013, which is when the sequester was scheduled to take effect.
Well, the super-committee thankfully didn’t reach an agreement because not enough Republicans were foolish enough to support a tax hike. But now the left’s back-up plan is being implemented. Senator Harry Reid, supported by the White House, is saying that the sequester will go into effect unless GOPers surrender to a tax hike. Here’s some of what the Associated Press reported.”

This was this Republican House session's signature (and only) achievement. And like the automatic defense cuts the tax increases are automatic. Paul Ryan voted with Pelosi for this and he got on camera praising it.

Now Obama is saying he would veto any attempts to undo the cuts without ‘deficit reduction ‘(ie tax increases) with Leon Panetta at the same time saying it will destroy our military.

Now Ryan and Co are campaigning on undoing their signature (and only) achievement. This is pathetic. “Just put Republicans in charge and great things will happen” we were told over and over. They demanded this bill, this was their deal. It also took all spending cuts off the table till the election as well as authorizing $3T in debt to get Obama through the election.

By the way, ordinary spending bills signed into law undo the 'automatic' spending cuts.

[sickoflibs]

Correction. Many said just replace Pelosi to stop her from passing anything, and that’s all the plan we need, much like the argument for Romney.

I don’t even like to think about the future regardless of who wins.

[ding_dong_daddy_from_dumas]

It also took all spending cuts off the table till the election as well as authorizing $3T in debt to get Obama through the election.

In a way, it gets both parties through the 2012 election. The GOP was terrified that Obama would veto until the govt. shut down and the GOP would get the blame.... again. Do you think voters are more responsible now than they were in 1996?

2011: Gingrich to GOP freshmen: Avoid government shutdown

It's possible that the markets are factoring in tax hikes. If it closes below 13700 today, that will be the first time it has gone down there in a while.