2 days until the Super Committee deadline to cut $1.2 Trillion in spending. Their options are to significantly cut spending or to increase taxes. Prominent members on both sides of the 12 person committee have publicly said that they would not do either.

If no action is taken by the committee, the law mandates a default decision: The defense budget will be cut by $492 billion. Another $492 billion will be cut from health, education, drug enforcement, national parks, agriculture programs, and Medicare.

>>Explain the Super Committee to me in 3 minutes or less

What would deadlock in the Super Committee mean to you?

"Clock Ticks Down to Super Committee Failure"

From Fox News

And here's a piece from Al Jazeera:

Newt Gingrich:

And the Washington Post:

ABC News says "A Colossal and Embarrassing Failure"

"Could affect every American"

"Devastating to the Pentagon"

"Tax increases in January"

"Hit's virtually everything"

"Long term unemployment..."

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