Washington (CNN) - Eight days and counting.
With time running out, senior Democrats and Republicans remained unclear Tuesday about the prospects of success for the so-called congressional "super committee" - the 12-member panel charged with the seemingly Herculean task of finding at least $1.2 trillion in savings over the next decade.
NEW YORK (CNNMoney) - The congressional debt committee has nine days to come up with a deficit reduction proposal.
There are basically three possible outcomes: The bipartisan panel reaches a deal; it doesn't reach a deal; or it reaches a partial deal.
(CNN) - They have been meeting for two months, poring over concepts and ideas already hashed out by three other groups over the past year.
But nine days before their deadline, members of the so-called congressional "super committee" created to forge a deficit reduction deal indicated Sunday that they remain hung up on basic issues of tax and entitlement reform that have previously stymied agreement.
West Des Moines, Iowa (CNN) - Newt Gingrich on Monday criticized the congressional panel that is trying to hammer out a deficit-reduction deal as nonsensical.
"I am watching the 'super committee' in Washington with amazement," Gingrich said. "This is the dumbest idea I've seen in a very long lifetime."
Washington (CNN) - The deficit tangle is a web of complex, long-term, financial problems. But no one seems to ask a basic question: Do members of Congress have those kinds of math skills?
Some of them can't do simple math on the spot (example in latest American Sauce podcast: 642-211). Many of them have mixed up "billions" and "trillions". And the vast majority of Congress comes from professions that don't involve high-level math.
Washington (CNN) – They have been meeting for two months, poring over concepts and ideas already hashed out by three other groups over the past year.
But 10 days before their deadline, members of the so-called congressional "super committee" created to forge a deficit reduction deal indicated Sunday that they remain hung up on basic issues of tax and entitlement reform that have previously stymied agreement.
Washington (CNN) - Sen. Mark Warner offered an alternative solution to the deficit negotiations Sunday if the so-called “super committee” fails to reach an agreement before the impending deadline.
The Virginia Democrat, who served as a member of the so-called “Gang of Six” senators that attempted to reach a comprehensive deficit deal earlier this year, said he hopes the “super committee” succeeds.
Washington (CNN) – The Republican co-chair of the so-called “super committee” trying to forge a major deficit reduction deal said Sunday that a two-step process is possible in which the bipartisan panel sets a figure for increased revenue from tax reform that congressional committees then set in legislation.
Texas Rep. Jeb Hensarling told CNN’s “State of the Union” that he remains hopeful for a comprehensive deal, but he made clear that an alternative could leave it to Congress to figure out how to implement results agreed upon by the 12-member panel made up of equal numbers of House and Senate Democrats and Republicans.
(CNN) - A mere two weeks before the congressional budget super committee's November 23 deadline, GOP members of the deficit-reduction panel have signaled a willingness to accept tax increases as part of a broader deficit reduction package, CNN learned Tuesday.
The development has the potential to break a deadlock within the sharply polarized 12-member group, as top Republicans have long been adamantly opposed to any tax hikes. A Senate GOP leadership aide called the shift a "significant concession" on the part of Republicans.
Washington (CNN) - House Speaker John Boehner says he and President Barack Obama have a "pretty good relationship," but he also criticized Obama for fomenting what Boehner called "class warfare" in the political debate over spending, taxes and job creation.
In an interview broadcast Sunday on ABC's "This Week" program, Boehner defended Republican opposition to efforts by Obama and Democrats to increase taxes on wealthy Americans as part of deficit reduction and job creation measures.