Economist Dean Baker Predicts "Really Bad Deal or No Deal" from Deficit "Super Committee"

President Barack Obama welcomed the deficit deal as "an important first step" and urged both parties to work together on a larger plan to cut the deficit. The deal includes no new tax revenue from wealthy Americans and no additional stimulus for the lagging economy. It has a provision to create a joint committee of 12 legislators charged with finding $1.5 trillion in deficit cuts. The committee must hold its first meeting in 45 days and is expected to set in motion a lobbying frenzy. For more, we speak with Democratic Rep. Donna Edwards of Maryland, who voted against the plan, and economist Dean Baker, co-director of the Center for Economic and Policy Research.

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Source: Democracy Now!