No deficit deal in sight despite prods by Obama
Sunday, November 13, 2011
WASHINGTON (AP) -- Despite prodding from President Barack Obama, members of Congress' supercommittee concede no deal is in sight to meet their goal of $1.2 trillion or more in deficit savings over the next decade.
With only 10 days remaining before their deadline, the panel remains sharply divided. Despite the difficulties, panel members say they haven't given up hope.
Obama, speaking Sunday in Hawaii, urged the members of the committee to show more flexibility, saying there's no magic formula for getting the job done.
Despite some concessions, the two sides remain divided over the same basic issues that thwarted earlier deficit reduction efforts -- finding a mutually agreeable blend of tax increases and cuts in the largest government benefit programs.