Tax, spending differences sink deficit panel; Dave Camp says failure is a 'serious disappointment'

Leaders of a special congressional deficit super committee announced Monday that the panel has failed to reach an agreement to conquer a government debt that stands at $15 trillion, unable to overcome deep and enduring political divisions over taxes and spending. The panel includes U.S. Rep. Dave Camp, R-Midland, as well as five other Republicans and six Democrats. “It is deeply regrettable that my Democrat colleagues could not see their way to addressing these much needed reforms without at least $1 trillion in job-killing tax increases on families and employers,” Camp said. “The failure of the Joint Select Committee on Deficit Reduction is a serious disappointment.”

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