Dubai: Dubai's new super-committee
to oversee the real estate sector will have three clear objectives - reduce the risk of oversupply, give private developers more space to build their credentials, and be realistic about the projects the city will need to back in the next 10 years.
(AFP) JEDDAH: Saudi Arabia's new super-committee
to fight corruption will give confidence to investors, protect public funds and create a new era of financial transparency, government ministers and experts said on Sunday.
Xi heads a new security super-committee
set up late last year partly to bring order to a chaotic situation in which powerful groups that included the People's Liberation Army, maritime enforcement agencies and state-owned energy giants--collectively, the "Nine Dragons"--hijacked foreign policy for their own narrow purposes, such as grabbing a higher share of state budgets or enlarging their own business opportunities.
A similar 2011 debt-ceiling crisis was resolved with the formation of a "super-committee
" to negotiate a deficit reductions, but a similar deadline came and went.
It added 2.4 trillion dollars to the debt ceiling; stipulated 1.2 trillion dollars would be cut over 10 years; and created a 12-member Super-Committee
to find another 1.2 trillion dollars in deficit reduction before Nov.
I would add that I'm particularly aware that in many ways the greatest challenge to America's foreign policy will be in your hands, not mine 6 because while it's often said that we can't be strong at home if we're not strong in the world, in these days of fiscal crisis, and as a recovering member of the Super-Committee
, I am especially cognizant of the fact that we can't be strong in the world unless we are strong at home 6 and the first priority of business which will affect my credibility as a diplomat working to help other countries create order, is whether America at last puts its own fiscal house in order.
It was hoped that the bipartisan "super-committee
" would reach an agreement on spending cuts, but it failed to do SO.
In August of 2011 a select committee, dubbed the "Super-committee
," was created with the sole purpose of recommending a series of fiscal policies to reduce the deficit and achieve fiscal sustainability.
Importantly, our bishops reminded last summer's debt reduction "super-committee
" that raising revenues must be integral to any solution: "A just framework also requires shared sacrifice by all, including raising adequate revenues, eliminating unnecessary military and other spending, and addressing the long-term costs of health insurance and retirement programs fairly."
As part of the debt legislation, Congress created a "super-committee
" made up of 12 elected officials six from each of its Houses.
According to Politico, long drawn-out skirmishes over the debt ceiling, the super-committee
and the payroll tax holiday have led to a 64 percent unfavorable rating for Republicans, with their favorable numbers sitting at 29 percent.
Related failures include the bipartisan Congressional Super-Committee
charged with debt reduction.