"Super Committee" Fails to Reach Deficit Deal
WASHINGTON- Just a few hours are left before the bipartisan panel was supposed to come up with more than a trillion dollars in deficit reduction, and members say a deal is very unlikely.
The Capitol is quiet. Most lawmakers have gone home for Thanksgiving.
The full bipartisan committee had no meeting Monday, despite President Obama's urging.
"Keep going, keep working," he urged them. "Let's keep at it. No politics, no delays, no excuses."
The super committee failed to reach a deal after Democrats resisted entitlement cuts and Republican balked on higher taxes for the wealthy. The failure means sweeping automatic spending cuts in January 2013.
Some lawmakers are already angling to reduce the automatic defense cuts, to cut the consequences of this failure, but make the deficit larger.