Supercommittee Far From Debt Deal

J. Scott Applewhite / AP Photo

Is anyone surprised? The Washington Post says the Obama administration is quietly preparing for the debt-reduction supercommittee to fail, while The Wall Street Journal says the panel is turning to accounting gimmicks to reach the target of $1.2 trillion in savings over 10 years. The deadline for the supercommittee is Nov. 23, and so far there has been no bill language made public or even a hint of a deal. On Tuesday, House Speaker John Boehner and Senate Majority Leader Harry Reid met, a sign that they are worried about the committee’s inaction.