WASHINGTON — Texas Rep. Jeb Hensarling, the Republican co-chairman of Congress's debt supercommittee says chances are slim that the panel can agree on a plan in its "daunting" task to reduce spending by $1.2 trillion over 10 years.
Hensarling said on "Fox News Sunday" today that "nobody wants to give up."
However, he acknowledged, “Reality is — to some extent — starting to overtake hope.”
Hensarling said the 12-member committee, which has not yet been able to reach agreement on $1.2 trillion in budget savings, would work up until its deadline and that there are no plans to announce failure.
Republicans are demanding changes in programs such as Medicare and Medicaid, while Democrats are insisting on tax increases on the wealthy.
Meanwhile, the supercommittee's Democratic co-chairwoman, Sen. Patty Murray of Washington, appealed for "shared sacrifice" during an appearance on CNN's "State of the Union."
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