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President Barack Obama makes a statement at the White House after the congressional debt supercommittee failed to reach an agreement on debt reduction on Monday, Nov. 21, 2011, in Washington. (AP Photo/Evan Vucci)

WASHINGTON (AP) — Congress’ supercommittee conceded ignominious defeat Monday in its quest to conquer a government debt that stands at a staggering $15 trillion, unable to overcome deep and enduring political divisions over taxes and spending.

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