WASHINGTON - A congressional "super committee" is expected to formally announce on Monday that its three-month-long effort to forge a $1.2 trillion deficit reduction plan has failed, aides told Reuters.
Barring an unforeseen development, the Republican and Democratic heads of a 12-member "super committee" will issue a joint statement conceding failure, the aides said.
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Failure by the committee of six Republicans and six Democrats could cement notions of a dysfunctional Washington among voters and investors.
