Supercommittee Discusses Smaller Deal

As the deadline for a deficit plan quickly approaches, Congress has split into two groups, with special committee members pushing for a $1.2 trillion deal and party leaders searching for a smaller Plan B in case no deal is made. The committee has been widely reported to be heading toward a stalemate, but certain members of Congress began talking Friday about possibly agreeing to a less-sweeping deal to save the committee from the political chaos likely to ensue. A plan must be proposed by midnight on Monday in order for Congress to have 48 hours to scrutinize before a vote on Wednesday. The stalemate has had at least partial influence on recently unstable financial markets, creating more pressure to make a decision over the weekend.