Super Committee' likely to announce failure to reach debt deal!!!
Posted in the Muskogee Forum
Since: Sep 09
#1 Nov 20, 2011
"Washington (CNN)-- Members of the "super committee" charged with coming up with $1.2 trillion in budget cuts are focused on how to announce failure to reach a deal, Democratic and Republican aides confirmed to CNN Sunday.
While aides said no final decision had been made, they acknowledged that -- barring an unforeseen development -- an announcement of an end to negotiations is the most likely scenario.
Talks on trying to reach a deficit reduction agreement are essentially over and discussions are focused on a Monday announcement, a senior Democratic aide said."
"A failure to pass any agreement would result in $1.2 trillion in automatic spending cuts across much of the federal budget starting in 2013, evenly divided between defense and non-defense spending. Defense Secretary Leon Panetta warned Congress this week that such cuts could cripple the American military establishment."
( They did now say Social Security, Food Stamps etc & those come from taxes!)
This is not good, here we go again!!!
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