Debt Panel Declares Defeat, Congress to Block Cuts
• APFailure by Congress' debt-cutting supercommittee to recommend $1.2 trillion in savings is supposed to automatically trigger spending cuts in the same amount but legislators who concocted that budgetary booby trap will spend 2012 defusing it.
http://www.reuters.com/article/2011/11/21/us-usa-debt-idUSTRE7AJ0KE20111121