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Supercommittee

(J. SCOTT APPLEWHITE/The Associated Press) A statue of a contemplative Benjamin Franklin overlooks the empty hallways of Congress as the deadline of the deficit Supercommittee approaches with no expectations for success, Sunday morning at the Capitol in Washington, Nov. 20, 2011. On various talk shows Sunday, Democrats and Republicans on the Joint Select Committee on Deficit Reduction exchanged blame for the a deepening impasse that has all but doomed chances for an accord.

Bush tax cut debate dooms deal to cut deficit

Last updated Tuesday, November 22, 2011 - 10:18am

WASHINGTON — A long-running war between Democrats and Republicans over Bush-era tax cuts doomed the debt supercommittee’s chances of reaching a deal. Efforts to overhaul the tax code may await the same fate as both parties gear up to make taxes a central issue in 2012 elections.

Congress, Debt, Deficit, George W. Bush, Supercommittee, Tax cuts, National Read more Comments

(J. SCOTT APPLEWHITE/The Associated Press) Supercommittee co-chairs Rep. Jeb Hensarling, R-Texas, left, and Sen. Patty Murray, D-Wash., right, confer as the Joint Select Committee on Deficit Reduction meets to hear testimony about the national debt from the Congressional Budget Office director on Capitol Hill in Washington. Failure by Congress’ debt-cutting supercommittee to recommend $1.2 trillion in savings by Wednesday, Nov. 23, 2011, is supposed to automatically trigger spending cuts in the same amount to accomplish that job. But the same legislators who concocted that budgetary booby trap just four months ago could end up spending the 2012 election year and beyond battling over defusing it.

Congress may try blocking cuts if debt panel fails

Alan Fram The Associated Press

Last updated Monday, November 21, 2011 - 8:37am

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.

Budget, Budget cuts, Congress, Debt commission, Deficit, Supercommittee, National Read more Comments

(J. SCOTT APPLEWHITE/The Associated Press) Sen. Patrick Toomey, R-Pa., arrives for a meeting with bi-partisan members of the Joint Select Committee on Deficit Reduction, often called the Supercommittee, on Capitol Hill in Washington, Friday, Nov. 18, 2011.

Deficit deal failure would pose crummy choice

Andrew Taylor The Associated Press

Last updated Saturday, November 19, 2011 - 5:57pm

WASHINGTON — If the deficit-cutting supercommittee fails, Congress will face a crummy choice. Lawmakers can allow payroll tax cuts and jobless aid for millions to expire or they extend them and increase the nation’s $15 trillion debt by at least $160 billion.

Deficit, Medicare, Supercommittee, National Read more Comments

(J. SCOTT APPLEWHITE)/The Associated Press) Speaker of the House John Boehner, R-Ohio, is seen following a Republican strategy session at the Capitol, Tuesday morning in Washington, Nov. 15, 2011. With the Supercommittee at an impasse and only eight days until the Nov. 23 deadline, Boehner met behind closed doors with Senate Majority Leader Harry Reid, D-Nev.

Democrats, Republicans far apart on deficit deal

Andrew Taylor The Associated Press

Last updated Wednesday, November 16, 2011 - 8:45am

WASHINGTON — The top Republican on a special deficit-cutting panel says GOP negotiators have “gone as far as we feel we can go” on tax hikes, a public signal that a debt bargain could be out of reach despite weeks of negotiations.

Budget, Congress, Deficit, Republican Party, Supercommittee, National Read more Comments