Supercommittee Headed for Failure
Two days before its Nov. 23 deadline, the congressional supercommittee tasked with creating a plan that would cut $1.2 trillion in the federal budget appears headed for failure. Though no announcement has been made, members of the 12-member, bipartisan committee remained at an impasse over the weekend, paving the way for automatic spending cuts in 2013.
On NBC’s “Meet the Press,” committee members Sens. Jon Kyl, R-Ariz., and John Kerry, D-Mass., outlined last-ditch efforts to reach a compromise.
“[B]oth Senator Kerry and I have said, we’re not going to quit until the stroke of midnight,” said Kyl.
Kerry blamed Republican intransigence for holding up any compromise. “There’s one thing standing between us and avoiding a sequester and doing $1.2 trillion, and that one thing is the Republican unwillingness to not push for the Bush tax cuts to be extended now,” he said.
On Friday’s NewsHour, Jeffrey Brown talked with Janet Hook of The Wall Street Journal about what would happen if the talks collapsed:
Watch Monday’s NewsHour for the latest developments.