The stock market today was shocked, simply shocked, that the Super Committee didn’t come up with a debt deal.
I don’t know why. Republicans can’t vote for more taxes unless they’re willing to get “primaried” from the right and risk losing their seat. Ditto for Democrats who would face the same punishment from their base if they voted to change the sacred defined benefit entitlements without at least getting tax concessions from the Republicans.
Obviously, neither side has a lot of statesmen in their ranks who would actually be willing to compromise.
