Congressman Adrian Smith holds out hope that the so-called super committee on debt reduction will be able to reach a compromise.
The committee, put together as part of the deal to raise the debt ceiling, has been charged with putting together a plan to reduce the federal debt by at least $1.2 trillion over the next ten years. It has been unable to reach a compromise.
Smith remains optimistic.
“I think they can get it done,” Smith tells Nebraska Radio Network. “It won’t be easy, but certainly it’s very important that we have a very thoughtful approach to the spending reductions that we all know need to take place.”
Smith says any attempts to reduce the national debt must tackle the politically difficult task of reforming Medicare. The congressman says that a market-based approach would reduce the debt.
Time is running out for the committee. It needs to reach an agreement by Monday to allow for the Congressional Budget Office to check its numbers. Congress is to consider the committee’s recommendations before Christmas. It will be a straight up or down vote on the committee recommendations. No amendments will be allowed. If the committee fails to reach agreement, automatic across-the-board budget cuts to military and civilian programs would be triggered.