The US Joint Select Committee on Deficit Reduction holds a hearing on Capitol Hill in Washington, on Monday. The bipartisan congressional committee formed to address the deficit issue and known in Washington as the 'super committee' needs to break an impasse between Republicans and Democrats to reach a deal by November 23 to reduce the US budget deficit by at least $1.2 trillion. Jonathan Ernst/ReutersWhat Happens If Deficit Super Committee Fails? Maybe Nothing. -- National Post
The latest rumor in Congress is that the massive $1.2 trillion in automatic cuts – designed to take effect if the deficit super committee fails to come up with its own plan – might never happen.
If the super committee fails, will there be any real conseque [...]
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