Talk of the Town: the Super Committee.

Everyone’s talking about the Super Committee.

According to news reports, discussion by the 12-member Joint Select Committee on Deficit Reduction has naturally included talk of reshaping the nation’s tax code, modifying entitlement programs, the future of America’s military footprint in the Middle East, and other topics.

Speculation continues about the content of these private meetings, and as Huffington Post notes, the value of these discussions may be up for debate:

Just how much the supercommittee’s deliberations matter, however, remains in doubt. The driving motivation behind the committee is a series of “automatic, across-the-board cuts” that will go into effect if the panel deadlocks… Those cuts don’t begin to take effect until 2013, meaning that Congress will have more than a year — a time span that includes a lame duck Congress — to reverse itself.

Some have also asked what would happen if the super committee fails.

We want to hear what conversations you’ve been having on the Super Committee.

Will they be able to not only agree upon a proposal, but also get it passed by Congress? If the automatic, across-the-board cuts are indeed triggered and we face $294 billion in cuts to nondefense discretionary programs, what do you expect the impact will be on housing? What influence, if any, do you believe election-year politics have on the debate? Share your thoughts with us in the comments.

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