Washington (CNN) - The congressional super committee, facing a fast-approaching deadline, appears headed toward failure unless negotiations shift dramatically in the final few days.
As evidence of the grim mood on Capitol Hill, multiple sources say Republican leaders have proposed a smaller package of spending cuts and revenues as a 'Plan B' if the panel does not succeed, though even this offer appears unlikely to gain much traction.
The smaller cuts are described by Republican sources as "low-hanging fruit," savings both Democrats and Republicans have shown support for in the past. This could include selling federal properties, sales of wireless spectrum and increased government fees among other things. But the plan, which would reduce the deficit by about $640 billion, was dismissed by Democratic leaders according to two Republican sources. Democrats, according to multiple sources, are insisting on a higher revenue component – such as eliminating oil and gas subsidies - to achieve the "balanced approach" they have sought all along.
Republicans, working with House Speaker John Boehner, R-Ohio, offered Democratic leaders this "backup plan" which included about $540 billion in mandatory spending cuts and fees, and about $3 billion in revenue from closing the corporate jets tax break said a GOP leadership aide and confirmed by a highly-placed Democratic source.
Sources say the focus has now shifted to finding a way to lessen the blow of the sequester - the automatic across-the-board cuts scheduled to set in if the super committee does not reach agreement on $1.2 trillion in deficit savings over 10 years.
Republicans as well as some Democrats are especially worried about automatic deep cuts targeting the defense budget.
However, it appears unlikely this latest proposal is going anywhere as talks appear to be breaking down over the same issue holding up previous negotiations – taxes. Multiple Democratic sources insist a smaller package like this is not viable if it lacks the "shared pain" that the super committee and the sequester demand. Republicans, on the other hand, remain opposed to tax increases without broader tax reform.
"Our (super committee) members continue to talk among themselves and with their Democratic colleagues about ways to reach the committee's goal, and whether Democrats will agree to any spending cuts without job-killing tax hikes," a GOP leadership aide said.
Sources caution that these latest discussions do not mean the super committee has given up on trying to hit its deficit reduction target by next week. Super committee members insist they are still talking on a bipartisan basis. However, the super committee appears to have made little progress and only has until next Wednesday to meet its statutory deadline.
-CNN's Ted Barrett and Deidre Walsh contributed to this story
Obama INTENDED for them to fail. He is counting on that!
I genuinely wish that someone could freeze the entire world for 3 minutes and explain to everyone who doesn't get it that taxes DO NOT "kill jobs". They never have, they never will. Taxes are a necessity for maintaining a functioning, centralized society, and misinformation is destroying our ability to run a country.
Maybe the Dems should let it happen and expose the effects of the GOP political game of saying "NO" to everything. Then the American people will see the GOPTee-baggers for the incompetent blowhards they are.
It was doomed from the start ... they put Tea Party Republicans on it. The real news would have been that they reached a compromise to which both sides agreed. But that was not gonna happen.
I hope the committee does not reach a bargain. The defense budget is loaded with fat. It needs to be slashed.
Face it, Democrats are only in this to try and raise taxes. Republicans have already offered $400 billion in revenue increases. This was apparently not enough for the greedy Democrats who wanted to reach into the American taxpayer's pocket for all of it. I see the default across-the-board reductions as success. Send them all home. Budget cuts are apparently the best we are going to get out of this.
OMG I am so surprised they didn't come to an agreement.
This great country is declining. So sad that so many smart people were blocked by so may stupid people and we had to be dragged down with their stupidity.
The same CRAP from the same Republicans, ALL take and NO give!
Please Vote in November 2012! I won't say which party to vote for but if the candidate has signed any kind of pledge they must be disqualified. I expect our representatives to keep their word without pledging to ANYONE but the people.
And the American public gets to see up close how the GOBP deathcult continues to care only for the greedy 1% and not the needy or the rest of us.
One name means failure in anything you do in life – – Mr. 3% vs 98% Parent Hood kyl. What are facts when you can stand in front of congress and lie through your teeth on record and then act as if figures don't matter.
This is the guy trying to make the numbers add up?
Yeah, right. Nice try conning the Nation once again congress!
@ Rick Mc.......
Obama INTENDED for them to fail. He is counting on that!
Hey Rick, do you have anything new??? This do-do is getting old.
Corporations are people but they can't vote, do the math.99%verse 1% . You lose teabags, I guess you better line your pockets now. 2012 is coming fast, and not soon enough, teabags. If you want your mom and dad kicked off soc sec, medicade , Medicare, foodstamps and every other good program that they pay taxes for vote for the teabag republican party. What a bunch of clowns. They won't get back in power for a 100years after this election
Obama INTENDED for them to fail. He is counting on that!
That makes a whole lot of sense when you consider that the whole idea was concocted by, and originated from, House Republicans. You know, the good guy party. The party who controls the writing of all spending legislation and what spending legislation does or does not up for a vote. It was the keynote amendment in the legislation to raise the debt ceiling. Remember? It was what the Republicans so desperately wanted. No compromise triggers draconian spending cuts.
GOP does not believe in any tax increases and will not compromise. There is nothing more to talk about. It is a total waste of time and money when the GOP follows Grover Norquist rather than the American people.
I genuinely wish that someone could freeze the entire world for 3 minutes and explain to everyone who doesn't get it that taxes DO NOT "kill jobs".
I'm listening. This should be good. By the way, what business school did you go to? Mine apparently had it all wrong. Are you also opposed to private ownership of property?
It's been clear from the start that the Democrats have no intention of cutting the fat bloated federal monstrousity they have created. They intend to maintain and expand the massive welfare society they have created until the country goes bankrupt. Then they'll just blame it on all those "rich" people for not giving them enough money.
I don't care what's cut, what's spent, what's raised, what's hiked (and no, it won't "kill jobs," either).
I just hope they reach a satisfactory COMPROMISE. Neither Republicans nor Democrats were elected to serve special interest groups, campaign financiers and donors, or insiders. They were elected to serve us, and I've seen very little of that lately. Our voices get lost amid the finger-pointing, political blame-game.
All the plans suck! 1.2 trillion is not nearly enough to reduce the deficit. Cuts need to be made, but that doesn't negate from the fact that we need SERIOUS revenue. Congress needs to get serious and do their job!
Being made up of the Party of "NO" and the Party of "STATUS QUO", what do you expect? Or have they dropped the charade and become all one big Party now? DemoRepubCratIcans.
Step right up and watch the Congressional Comedy Show. Clowns to the right, Clowns to the left, educated Clowns but Clowns nonetheless. We are moving a 150 MPH ,an guess what the Brick Wall of Life, is just around the bend. Perhaps
Bachmann or Perry can pray the debit away, for a small kick back of course.
How could the supercommittee not fail; its infested with [R]s. [R]s have proven to be FAILURE incarnate.
Good for the [D]s - no more compromise with treasonous knuckleheaded rightwingers. Let the blind cuts go forward, and let's trim some real fat from the DOD. Let's watch the [R]ats scramble when the lights turn on with these DOD cuts!!
When the legislative smoke clears the subsidies to oil companies, corporate america, foreign governments
and special interest group projects will remain untouched or simply re-routed and better hidden. 1.2 trillion
over 10 years? Like using a band-aid on a gaping wound. We are hemorrhaging 2 trillion a year right now.
Republican or Democrat? The candidates we get to choose from at election time are all rich, hand picked
and sponsored by special interest and or corporate America. Regan, Bush 1, Clinton, Bush 2, Obama and all
the members of Congress under them have contributed to America's downward spiral. The laws they passed
to appease their corporate/special interest sponcers are the direct cause of America's decline. From an un-
regulated Wall street bankrupting the economy, the multi-trillion dollar Iraq war that was based on lies,
deception and oil, free trade agreements that moved our manufacturing sector/base and its jobs overseas
leaving fruit picking and fast food service as our job base, to mortaging our children's future to give Wall
street types golden parachutes, the laws they passed are the direct cause of our current crisis/decline. The
greatest threat to U.S. national security isn't from foreign terrorist's, energy or financial collapse, it's from
our current "vote for sale" political system that actually created the other threats. Like race car drivers
politicians should wear uniforms adorned with logos and patches of the corporations, special interest groups
and lobbyist who sponsor them. Staunch Republican or Democrat constantly pointing fingers at the other side? Then truth has eluded you and you have unwittingly become part of the problem as well.
King Grover and the Koch Bros, rule the GOP/TEAHADIST...They don't care about the middle class or the poor !
Money and power is the only thing they worship.
@Democrat Class Warfare – Destroying the economy, destroying the country
"It's been clear from the start that the Democrats have no intention of cutting the fat bloated federal monstrousity they have created. ?
Why can't you face reality? The economy went down the toilet on Bush's watch – including the first bailout package. place and still the economy tanked. Remember Bush's two wars? Bush's tax cuts were in place when the economy failed – low revenue will do that! Right-wingers like to tell people to stop blaming Bush... Really? Why would you stop blaming the President who was in charge and had control of the Congress for most of his tenure? Obama's spending was trying to save us from an even worse Great Depression. Step away from Fox News and learn something.
Obama & Dems have had their hands full trying to deal with childish Repubs who want nothing but failure. Haven't we had enough failure during the Bush/Cheney years??
When will the toadys of the GOP get honest and accept responsibility for their actions and Repub politician's actions that caused so much pain and destruction in America – with their character flaws probably never.