Would Supercommittee Failure Roil Markets? The bipartisan committee still seems far from an agreement despite Wednesday's deadline. There's concern that if lawmakers don't make credible progress on reducing the budget deficit, the impact on Wall Street will be severe.
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Would Supercommittee Failure Roil Markets?

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Would Supercommittee Failure Roil Markets?

Would Supercommittee Failure Roil Markets?

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RENEE MONTAGNE, HOST:

In Washington, Democrats and Republicans are locked in different kind of conflict over reducing the budget by at least $1.2 trillion over the next decade. The congressional supercommittee charged with making that happen met again yesterday, but it seems the group is still far from an agreement. With a deadline looming - it has to make deal by Thanksgiving - there's concern a failure by the committee could send financial markets into a spiral. Here's NPR's John Ydstie.

JOHN YDSTIE, BYLINE: Remember that the supercommittee is actually a child of the debt-ceiling debate. It was an escape hatch for Congress and the president when they couldn't reach agreement on big deficit-reduction measures back during the summer. That game of chicken helped to send the stock market sliding.

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