Looking back, it's not that surprising that the super committee failed to reach an agreement cut the nation's deficit. Stanford history professor David Kennedy discusses why we shouldn't be surprised, and what to expect next.
Fortune magazine's Allan Sloan says there's a reason why the super committee has yet to make a decision on the deficit-cutting deal: There aren't, and never were, any ramifications for failure.
It's time for the congressional debt-cutting "super" committee to hang up their budget-fighting capes. No official announcement yet, but it looks like stalemate.
As of now, the markets are still going on despite the likely lack of a deal in the super committee this week. But much of that depends on the situation in Europe, which could turn around.
Talks are winding down at the Congressional super committee, and so far, no deal has been made. Spain has a new government after elections were held over the weekend. Hewlett-Packard reports earnings today, the first time since Meg Whitman took the reins. And Tyson foods, the big meat producer, reported even bigger quarterly losses.
With just five days left before the Wednesday deadline to figure out how to cut the deficit by at least $1.2 trillion, the super committee hasn't been able to agree on where to get the $1.2 trillion. Some say all they've come up with so far is gimmicks offering no real solutions.
It's less than a week before the super committee must reach a deal to cut at least $1.2 trillion from the U.S. deficit. Both sides say they know the clock is ticking, but they're not getting closer to agreement.