By Thomas Ferraro and Andy Sullivan – After a year of bruising budget battles, failure by the super committee is another sign that U.S. lawmakers are too entrenched to compromise on the tax increases and benefit cuts that budget experts say are needed to set the country’s finances on a stable path.
Lawmakers likely will not return to the problem until 2013 at the earliest as they shift their attention to the 2012 presidential and congressional elections.
Budget skirmishes will continue over the coming months. more> http://is.gd/LDDJaF
- Insight: Lessons for U.S. from Canada’s “basket case” moment, Randall Palmer and Louise Egan, Reuters
- Boehner blames Obama for failure of supercommittee to reach a deal, Erik Wasson, Hill
- Where in the world is Obama? Judd Gregg, Hill
- U.S. deficit committee nears deadline without deal (cbc.ca)
- Deficit Super Committee to Concede to Failure (usnews.com)
- Deficit-Cutting Committee Reaches Deadline (huffingtonpost.com)
- Supercommittee set to admit failure (cbsnews.com)
- Debt panel poised to admit failure (mercurynews.com)
- Lawmakers already taking aim at auto-cuts – CBS News (cbsnews.com)