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Deficit gridlock looms, supercommittee deadlocked

Deadline nearing, the deficit-reduction talks in Congress sank toward gridlock Friday after supercommittee Democrats rejected a late Republican offer that included next-to-nothing in new tax revenue. Each side maneuvered to blame the other for a looming stalemate.

By ANDREW TAYLOR,Associated Press, DAVID ESPO,Associated Press | Updated on November 18, 2011
Sen. John Kerry, D-Mass., member of the Joint Select Committee on Deficit Reduction, often called the Supercommittee, speaks to reporters following a closed-door meeting on Capitol Hill in Washington, Friday, Nov. 18, 2011. (AP Photo/Manuel Balce Ceneta)

WASHINGTON (AP) — Deadline nearing, the deficit-reduction talks in Congress sank toward gridlock Friday after supercommittee Democrats rejected a late Republican offer that included next-to-nothing in new tax revenue. Each side maneuvered to blame the other for a looming stalemate.

The panel faces a deadline of next Wednesday, the day before Thanksgiving, and lawmakers on both sides stressed they were ready to meet through the weekend in a last-ditch search for compromise.

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