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Supercommittee failing in talks to lower U.S. debt as deadline looms


  • Members of debt reduction supercommittee struggle in talks to lower U.S. debt.

    Members of debt reduction supercommittee struggle in talks to lower U.S. debt.

    Lawmakers are in deadlock over talks to reduce spending on Medicare and Medicaid as Democrats and Republicans in congress refuse to compromise on either side.

    “Fairness has to be a prerequisite for it,” said House Minority Leader Nancy Pelosi, D-Calif. “We have just come through passing a bill that was (all spending) cuts, no revenue.”

    Some are saying that the partisan deadlock will result in nothing being done to reduce the U.S. debt which hovers around $14 trillion.

    “There’s been no movement on revenues and I’m not sure the Democrats will agree to anything without revenues,” added a Democratic lobbyist who required anonymity to speak candidly.

    Lawmakers have until Thanksgiving to come up with a compromise to reduce the national debt by $1.2 trillion over the next 10 years.


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