One of the main components of the legislative “solution” to the debt ceiling “crisis” that occurred a few weeks ago is the formation of a new bipartisan Super Committee that is charged with cutting $1.2 trillion out of the budget over the next ten years by November 23, 2011. (Technically, it’s called the Joint Select Committee on Deficit Reduction.)
Well, the Super Committee members have now been selected, and here they are: Senators Pat Toomey (R-PA), Jon Kyl (R-AZ), Rob Portman (R-OH), Patty Murray (D-WA), John Kerry (D-MA), and Max Baucus (D-MT) and Representatives Jeb Hensarling (R-TX), Fred Upton (R-MI), Dave Camp (R-MI), Chris Van Hollen (D-MD), Xavier Becerra (D-CA), and Jim Clyburn (D-SC).
Of course, when you’re dealing with these kinds of numbers ($1.2 trillion), lobbyists and special interests immediately come crawling out of the woodwork to do anything they can to avoid being placed on the chopping block. The press is already putting the campaign donors of these committee members under the microscope.
The 12 Super Committee members have received $64.5 million in campaign contributions from political action committees (PACS) and employees over the last decade (numbers courtesy of Maplight). At the top of the list are PACS funded by the legal profession, Wall Street firms (such as Goldman Sachs, Bank of America, and JP Morgan Chase), and Democratic/Liberal groups, who contributed $9.6 million to committee members.