Posted by: mulrickillion | November 22, 2011

As Panel Admits Defeat, Battle Shifts to Automatic Cuts

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Senator Rob Portman of Ohio, a Republican member of the deficit committee, speaking with reporters on Monday after panel members met on Capitol Hill. Brendan Hoffman for The New York Times.

By Jennifer Steinhauer, Helene Cooper and Robert Pear, Nov 12, 2011 — WASHINGTON — Leaders of the Congressional committee charged with finding at least $1.2 trillion in deficit reductions conceded on Monday that panel members had failed, setting up what is likely to be a yearlong political fight over the automatic cuts to a broad range of military and domestic programs that would go into effect starting in 2013 as a result of their inability to reach a deal. . . .

As Panel Admits Defeat, Battle Shifts to Automatic Cuts – NYTimes.com

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