Monday, November 21, 2011 5:00:44 PM
WASHINGTON POST -- NEWS ALERT
Congressional supercommittee fails to reach agreement on deficit reduction
The congressional supercommittee has failed to reach an agreement over how to cut $1.2 trillion from the U.S. budget deficit, the group said in a statement released Monday afternoon.
The co-chairs of the supercommittee, Democratic Sen. Patty Murray and Republican Rep. Jeb Hensarling, said in a joint statement, "Despite our inability to bridge the committee's significant differences, we end this process united in our belief that the nation's fiscal crisis must be addressed and that we cannot leave it for the next generation to solve."
Under the law that created the bipartisan 12-member panel, the failure means that the government will face an across-the-board $1.2 trillion cut to defense and non-defense spending in 2013.
Read more at:
Or visit washingtonpost.com.
Washington Post Digital
E-mail Customer Care
1150 15th Street NW
Washington, D.C. 20071 ©2011