Tags: Debt Supercommittee

Supercommittee Limping Towards Deadline

Friday, 18 Nov 2011 07:14 AM

 

WASHINGTON — Republicans and Democrats on Congress' deficit-reduction supercommittee have resumed face-to-face meetings after more than a week of backbiting and stalemate.

But the 12-member panel is still limping toward a Thanksgiving deadline with no tangible evidence of a potential breakthrough on a debt plan, even after a handful of panel members met Thursday evening in hopes of salvaging the talks as times runs out.

The special deficit panel was established under this summer's budget and debt pact between President Barack Obama and House Speaker John Boehner. It was given unusual powers in hopes of producing at least $1.2 trillion in deficit cuts over the coming decade, to be voted on by the House and Senate.

Familiar battles over tax increases and cuts to benefit programs continue to hang up the panel.

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