Lawmakers Trade Blame as Congressional Deficit Talks Crumble - NYTimes.com - 0 views
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Barring an unexpected turnaround before Monday’s deadline, the failure of the special Congressional deficit committee will be the third high-profile effort to fall short of a deal in the last 12 months, including a bipartisan deficit commission and talks last summer between President Obama and Speaker John A. Boehner.
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By law, the special Congressional committee’s inability to reach an agreement will trigger $1.2 trillion in automatic spending cuts over 10 years to the military and domestic programs, to start in 2013.
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the leaders of the committee planned to issue a statement on Monday acknowledging that they had failed to reach an agreement. And lawmakers on the panel, which is evenly divided between the two parties, blamed one another for the failure.
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