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The high stakes game on Capitol Hill to cut $1.2 trillion from the federal deficit ended in a stalemate Monday, effectively suspending tough decisions on budget cuts or tax increases until after next year’s presidential election. - Audrey Hudson/Human Events
“In the end, an agreement proved impossible not because Republicans were unwilling to compromise, but because Democrats would not accept any proposal that did not expand the size and scope of government or punish job creators,” said Senate Minority Leader Mitch McConnell (R.–Ky.).
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Super Failure - Billy House/National Journal
via Drudge
But the nation’s debt crisis will continue – with the deficit now at about $15 trillion. It also is likely no coincidence that the committee waited until the financial markets closed for the day to make the announcement. The Dow Jones industrial average had already tumbled by more than 300 points earlier in the day partly in anticipation of the acknowledgement of failure.
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Blame Game Begins, Again - NY Times
