WASHINGTON (AP) — It's just about over for a special deficit-reduction supercommittee, which appears set to admit failure on Monday in its quest to sop up at least $1.2 trillion in government red ink over the coming decade.
The bipartisan 12-member panel is sputtering to a close after two months of talks in which key members and top congressional leaders never got close to bridging a fundamental divide over how much to raise taxes. The budget deficit has forced the government to borrow 36 cents of every dollar it spent last year.
In a series of television interviews, not a single panelist seemed optimistic Sunday about any last-minute breakthrough, and aides said any remaining talks had broken off.
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