Clyburn: Committee Should Close the Wealth Gap
Congressman James Clyburn wants to use the Super Committee to "close the wealth gap."
"In 1963, Dr. [Martin Luther] King [Jr.] expressed disbelief that the vault of opportunity in this great country was empty. Yet in 2011, the gap continues to grow wider between those who enjoy great wealth and those who struggle to get by with little thought of ever getting ahead," Clyburn said in a statement reacting to his appointment on the deficit panel.
As part of the package to raise the debt ceiling, for instance, Congress locked in more than $900 billion in domestic spending cuts up front, and created the supercommittee to identify at least $1.5 trillion in additional deficit reduction. There were no stimulus provisions or revenue hikes.
How does the economy get improved by taking more money out of it and turning it over to the government?