WASHINGTON — Failure by Congress’ debt-cutting supercommittee to recommend $1.2 trillion in savings by Wednesday is supposed to automatically trigger spending cuts in the same amount to accomplish that job.
Last updated Thursday, November 10, 2011 - 12:54am
A congressional "supercommittee" tasked to slow the nation's rising debt appears to have reached consensus on dampening future cost-of-living adjustments (COLAs) for federal entitlement programs, including military retirement, through use of a "chain-weighted" Consumer Price Index.