Supercommittee Talks Stumble

    (L-R) Supercommittee members, Senate Finance Committee Chairman Sen. Max Baucus, D-Mont., third from left, holds his hand out as he questions Congressional Budget Office (CBO) Director Douglas Elmendorf,  on Capitol Hill in Washington, Wednesday, Oct. 26, 2011. From left are, Supercommittee Co-Chair Sen. Patty Murray, D-Wash., Sen. Jon Kyl, R-Ariz., Baucus, Sen. Rob Portman, R-Ohio, and Sen. John Kerry, D-Mass. (AP Photo/J. Scott Applewhite)

    J. Scott Applewhite

    It may be time to pull the plug. Supercommittee talks seemed to be on the verge of collapsing late Thursday, as both sides struggle to find a plan to cut the federal debt before next week’s deadline. Democrats said they were working on a new plan; Republicans said they were not working on a plan themselves. The supercommittee has to cut $1.2 trillion from spending before Nov. 23. The GOP and Speaker Boehner’s plan has $240 billion in new revenue and prolongs the Bush tax cuts. Democrats have reportedly united and proposed a few changes to entitlements and Bush tax cuts, and are willing to accept the GOP’s plan once they’re made. Boehner says that there is no agreement among Democrats.

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