THE ISSUE
The bipartisan 12 member “Joint Select Committee on Deficit Reduction,” created by the Budget Control Act of 2011, was charged with recommending at least an additional $1.2 trillion, with a target of $1.5 trillion, in deficit reduction by the end of 2011.

The committee announced November 21, that it would not be able to reach a deal on deficit reduction recommendations. Per the Budget Control Act, the failure to reach an agreement triggers $1.2 trillion in automatic cuts over 10 years will be enforced beginning January 2, 2013. The spending cuts:

• Split evenly between defense and non-defense spending.
• Cuts would exempt most programs intended to serve low-income Americans and seniors, including Social Security.
• Medicare spending could be reduced by a maximum of 2%, with the cuts being made to payments to providers, rather than benefits to recipients.

Committee Membership
Sen. Patty Murray (D-WA) co-chair Rep. Jeb Hensarling (R-TX) co-chair
Sen. Max Baucus (D-MT) Rep. Dave Camp (R-MI)
Sen. John Kerry (D-MA) Rep. Fred Upton (R-MI)
Sen. Jon Kyl (R-AZ) Rep. James Clyburn (D-SC)
Sen. Rob Portman (R-OH) Rep. Xavier Becerra (D-CA)
Sen. Pat Toomey (R-PA) Rep. Chris Van Hollen (D-MD)