Super Committee Co-Chairs To Declare Failure -Sources
reuters 9:21 p.m.
The top Republican and Democrat on a congressional deficit-reduction panel will say on Monday they have been unable to reach a deal after months of effort, congressional sources said on Sunday.
Barring an unforeseen development, Republican Representative Jeb Hensarling and Democratic Senator Patty Murray will issue a joint statement saying the 12-member "super committee" has failed in its mission to agree on at least $1.2 trillion over 10 years, the aides said.
Here's a little chart from the waexaminer showing how small the $1.2 trillion in cuts are compared to the projected spending over the next 10 years. We are in so much trouble here...
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