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No deal to ease US Budget deficit

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No deal to ease US Budget deficit

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In the U.S. a so called ‘super committee’ is set to admit defeat in its bid to come to grips with the country’s debt deficit.

The Republican and Democrat leaders of the 12- member committee will release a statement saying three months of talks have failed to bridge deep divides over taxes and spending.

It is seen as another sign that U.S lawmakers are too entrenched to compromise on the tax increases and benefit cuts which experts say are necessary.