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Partisan Divide Over Taxes, Spending Stalls Agreement on $1.2 Trillion in Cuts
The deficit-reduction supercommittee, stuck in a partisan deadlock, faces an almost certain collapse—raising the threat of disruptive military spending cuts and a resurgent public anger at Congress as it struggles with the basic tasks of governance.
Barring an unlikely, last-second breakthrough, the committee is expected to announce Monday that it failed to reach its mandated goal of writing a bipartisan bill to reduce deficits over the next 10 years by at least $1.2 trillion.
That expected failure injects a greater uncertainty into the nation's political and economic landscape heading into a volatile election year. |
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