Turkey Day is coming, and with it, the deadline for Obama’s 12-member “Super Committee,” a group of Congress members tasked with carving $1.2 trillion off our national debt.
If the bipartisan group can even reach a deal (so far, they’ve missed their own deadline by at least ten days, flatly refused each others’ proposals and been awfully closed-lipped about possible compromises), it seems like everyone’s going to feel the pinch.
Everyone, that is, who can’t buy his or her way out of it.
Last week, the American Petroleum Institute — the notorious “Big Oil” lobby representing Chevron, Exxon Mobil, Shell and others — started running ads thanking Republican super committee members for preserving industry-specific tax breaks worth $40 billion over the next ten years.