Do nothing, Congress. Ezra Klein and EJ Dionne both write today about the benefits of simply letting various existing policies expire…doing so would net $7.1 TRILLION in deficit savings over the same decade that the “Super-committee” can’t find a way to reliably extract $1T. This path requires no votes, it requires no legislation, it requires no GOP assistance of any kind. Gridlock is all that’s required to make it happen.
So why is it no Serious Person (to whom deficits are, always have been, and always will be the preeminent policy question come-what-may) ever talks about the biggest deficit reduction plan currently out there, a plan that outstrips all other extant deficit plans by several orders of magnitude? Because they don’t actually care about deficits. None of them do. Because deficit reduction is not the goal. The GOP and their media enablers do not care about deficits. They care about eliminating social spending in this country to lower taxes on the richest 1%. Period. Everything and anything else that happens is collateral damage to that desired policy outcome.

Gridlock works. Gridlock will help America. Relying on gridlock is the best possible negotiating tool for Democrats. Period. Be prepared to end the Bush tax cuts. All of them. Be prepared to end the “doc fix.” All of it. Be prepared to end it all. Then you begin to drive policy decisions and have actual governing authority to get jobs bills and other things done.

Instead, they will, of course, continue to negotiate with themselves and parrot right-wing talking points. This is why they fail.
Just sit there quietly and let it all expire. Whenever the GOP talks about deficits, you bring up the $7T you are cutting deficits by over the next decade.
When the GOP gets tired of that, realizes you are serious about this, and is ready to talk, they’ll come to you. Then you set the terms. Then you begin to govern. This is how politics works. The Democrat seems to have largely forgotten this. Again: this is why they fail.