20 Nov '11, 12am

US Congress 'supercommittee' nears 11th hour, but still sees no deal to shrink deficits

US Congress 'supercommittee' nears 11th hour, but still sees no deal to shrink deficits

Rep. James Clyburn (D-SC) arrives for a meeting with other Democrat super committee members in the Capitol in Washington Nov 18, 2011. The special congressional committee is tasked with finding at least $1.2 trillion in budget savings over 10 years, but with a Nov 23 deadline looming, Republicans and Democrats have not yet sealed a deal. -- PHOTO: REUTERS WASHINGTON (AFP) - A US Congress 'supercommittee' on Saturday showed no sign of closing in on a deal to shrink swollen US deficits, unable to close partisan gaps on cutting social programmes and raising taxes on the rich. The 12-member panel faced a rapidly approaching midnight Wednesday deadline to adopt a plan to cut US$1.2 trillion (S$1.5 trillion) from deficits over 10 years, with failure due to trigger draconian cuts to domestic programmes and military spending. A day after the White House said the committee must 'do...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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