President Obama Monday put the blame for the supercommittee's failure squarely on congressional Republicans — and their unwillingness to consider higher taxes on the wealthy. Obama also threatened to veto any effort to escape from the automatic spending cuts agreed to in August without a balanced plan to reduce the deficit. Robert Siegel talks to NPR's Scott Horsley for more.
Senate Finance Committee Chairman Sen. Max Baucus, D-Mont., a member of the congressional supercommittee on the deficit, fends off reporters as he arrives to meet in the Capitol Hill office of Sen. John Kerry, D-Mass., on Monday.
Originally published on Mon November 21, 2011 4:12 pm
When the bipartisan supercommittee on the federal debt was formed four months ago, there was more than a little skepticism that the 12-member group could come up with $1.2 trillion in savings and avoid a severe round of automatic government budget cuts.
On Monday, with the deadline fast approaching and no plan in sight, it looked like the skeptics were on the verge of being proved right.