Deficit supercommittee gives up

Congressional Super Committee Close To Failure On Deficit Reduction Plan
WASHINGTON, DC - NOVEMBER 21: U.S. Sen. John Kerry (D-MA) pauses as he is interviewed by the media November 21, 2011 on Capitol Hill in Washington, DC. The Joint Select Committee on Deficit Reduction has issued a statement saying "it will not be possible to make any bipartisan agreement available to the public before the committee's deadline." (Photo by Alex Wong/Getty Images) (Getty Images)

Congress' panel conceded ignominious defeat Nov. 21 in its quest to conquer a government debt that stands at a staggering $15 trillion, unable to overcome deep and enduring political divisions over taxes and spending.