Debt panel poised to admit failure amid partisan wrangling
Updated 27m ago
WASHINGTON (AP) – A special deficit-reduction supercommittee appears likely to admit failure on Monday, unable or unwilling to compromise on a mix of spending cuts and tax increases required to meet its assignment of saving taxpayers at least $1.2 trillion over the coming decade.
The panel is sputtering to a close after two months of talks in which the members were never able to get close to bridging a fundamental divide over how much to raise taxes to address a budget deficit that forced the government to borrow 36 cents of every dollar it spent last year.
http://www.usatoday.com/news/washington/story/2011-11-20/debt-committee-blame/
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