'Supercommittee' fails to reach an agreement
In this Nov. 16, 2011 file photo, Sen. John Kerry, D-Mass., emerges from a closed-door meeting with fellow Democratic members of the Supercommittee at the Capitol in Washington. Credit: AP
The bipartisan leadership of a special congressional deficit supercommittee has officially announced that the panel has failed to reach an agreement.
Democratic Sen. Patty Murray and Republican Rep. Jeb Hensarling say that despite "intense deliberations" the members of the panel have been unable "to bridge the committee's significant differences."
The panel was established by this summer's budget and debt agreement to cut at least $1.2 trillion from the budget over 10 years. But the panel has been divided from the beginning over taxes and cuts to popular government benefit programs like Medicare.
Last-ditch bipartisan talks failed to produce a breakthrough.
Highest-paid LI nonprofit employees ... South Asians concerned about online hate ... Working Moms: Finding friends ... Out East: Seven Ponds Orchard
Highest-paid LI nonprofit employees ... South Asians concerned about online hate ... Working Moms: Finding friends ... Out East: Seven Ponds Orchard
