Supercommittee Talks Stumble

It may be time to pull the plug. Supercommittee talks seemed to be on the verge of collapsing late Thursday, as both sides struggle to find a plan to cut the federal debt before next week’s deadline. Democrats said they were working on a new plan; Republicans said they were not working on a plan themselves. The supercommittee has to cut $1.2 trillion from spending before Nov. 23. The GOP and Speaker Boehner’s plan has $240 billion in new revenue and prolongs the Bush tax cuts. Democrats have reportedly united and proposed a few changes to entitlements and Bush tax cuts, and are willing to accept the GOP’s plan once they’re made. Boehner says that there is no agreement among Democrats.