Time nearly up, committee failing to reach a deficit deal

By Bobby Caina Calvan

Globe Staff / November 21, 2011

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For all the talk just months ago that failure would not be an option, many on Capitol Hill were on the verge of conceding defeat as a congressional deficit-reduction panel showed no public signs of reaching an agreement before its Wednesday deadline. Representative Jim McGovern lights candles and prays, he said, for divine intervention to deliver what some on Capitol Hill would consider a huge miracle: a bipartisan deal to reduce the country’s mounting burden of deficits. Others, like Representative Michael Capuano, have long lost faith - and say the country may be better off with no plan at all.

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