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Financial Post: What Happens if U.S. 'Supercommittee' Fails?

Author: Donna Smith
October 21, 2011

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Donna Smith discusses the implications that will arise if the U.S. "supercommittee" fails to produce a deficit-cutting plan.

WASHINGTON – The deadline for the U.S. congressional "super committee" to produce a deficit-cutting plan is just a few weeks away with no clear sign the panel will overcome partisan differences and succeed.

The legislation that established the panel of six Democrats and six Republicans also put in place an enforcement mechanism that will trigger automatic cuts if the committee fails to reach agreement on $1.2 trillion in budget savings over 10 years.

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