Did anyone really expect a different result? The so-called super committee with an equal number of republicans and democrats was supposed to come up with a combination of cuts and revenue totaling $1.2 Trillion.
This was over a 10 year span in which time the CBO estimates our total budgets will be $44 Trillion.
What a failure. This will obviously affect the stock market which affects all of us, either directly or indirectly.
Moody's, the rating agency said that this dysfunction is no surprise and was counting on the super committee to achieve nothing. What does that say?
The fact that the politicians who represent us are unwilling to put aside politics to get something BIG done is pathetic.
We sorely need a third, fourth and fifth political party so that its not an either or decision. Either you are with us or against us. It does not need to be this way.