3 things that set the Super Committee up for a Super #Fail:
1. Unpopular out of the gate: Congress has a 9% approval rating, the Super Committee is a mini-me of unpopularity.
2. No risk around election: The closer we get to elections, the slimmer the chance something risky in DC gets done.
3. History stacked against the 12 members: 4 voted against Simpson-Bowles; 0 voted for it; 2 voted against raising the debt ceiling.
3 things that WON’T happen as a result of the Super #Fail:
1. Markets won’t go haywire. Wall Street is used to this song and dance out of Washington.
2. The US won’t get downgraded. Moody’s has already said they will wait until 2013.
3. Automatic spending cuts won’t kick in right away. There is a 13-month cushion…shockingly post-election.
No super doom, no super powers — sadly just super in name alone.