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Supercommittee to say it failed: WSJ (Oh oh!)

Supercommittee to say it failed: WSJ (by Benjamin Pimentel)

SAN FRANCISCO (MarketWatch) - The U.S. congressional committee assigned to draft a plan for cutting $1.2 trillion from the nation's deficit over 10 years is expected to announce Monday that it has failed, the Wall Street Journal reported. Congress has until Nov. 23 to approve recommendations from the so-called deficit-reduction supercommittee. Without a plan, according to the bipartisan deal approved in August, $1.2 trillion would be automatically cut from across government.