Congress’ supercommittee conceded ignominious defeat Monday in its quest to conquer a government debt that stands at a staggering $15 trillion, unable to overcome deep and enduring political divisions over taxes and spending.

Quoted from Super failure: Deficit-cutting panel gives up on Yahoo! News – Latest News & Headlines

Washingtons most ambitious effort in years to come to grips with its mounting debt is set to end with a whimper on Monday as negotiators plan to announce they have failed to The talks also were hampered by internal divisions within both parties. Republicans offered a plan crafted by Toomey about two weeks ago that included an additional 250 Failure of Deficit Cutting Committee Leaves Massive Medicare Pay Cut on Table December 15 2011 Tags: failure, deficit, cutting, super, House Speaker John Boehner names Deficit cutting Nov. 21 2011. Lawmakers look to undo budget cuts. Nov. 21 2011. No deal in sight on deficit plan as Nov. 21 2011 WASHINGTON (Reuters) The failure of a congressional deficit cutting committee means the tough work of putting the United States finances on a stable path

Related posts:

1. Senate passes payroll tax cut, spending bill
2. Cut taxes, Obama tells Congress in $450B jobs plan
3. Shoppers lift economy but will they keep spending?
4. Tax the rich, Obama says; class warfare, says GOP
5. INTERNET, THE MALAYSIAN POLITICAL "BATTLEFIELD"