Supercommittee Stumbles

Supercommittee talks appeared to be on the brink of collapse, Politico reports, “with neither side hopeful that an agreement can be reached before next week’s deadline.”

Bloomberg: “Republicans and Democrats on Congress’s supercommittee are hardening their positions less than a week before a deadline to produce a U.S. deficit-cutting plan and challenging each other to make the first move toward compromise.”

The issue, of course, is the Bush tax cuts. The Wall Street Journal reports Republicans “are digging in against any agreement that does not
extend current income-tax rates, which are scheduled to expire at the
end of 2012.”