Members of the congressional "super committee" - the bipartisan panel tasked with finding at least $1.2 trillion in budget savings over the next decade - will likely announce Monday that they have failed, according to both Democratic and Republican aides.
"No decisions or agreement has been reached concerning any announcement or how this will end," one senior Democratic aide said. "But, yes, the likely outcome is no agreement will be reached."
Markets dropped as news spread of the panel's apparent failure. The Dow Jones Industrial Average had declined over 300 points by noon Monday.FULL STORY