Deficit panel remains deadlocked as deadline approaches

11/17/2011 | FoxNews.com

With a week left before the deadline, the Joint Select Committee on Deficit Reduction appears to be stalled. Democrats reportedly made a counteroffer last week to accept a Republican outline for a $1.5 trillion proposal, but asked for changes to several provisions. Democrats offered to cut Medicare and Medicaid spending, and raise tax revenue far less than they demanded earlier. Sen. Patty Murray, D-Wash., the panel's co-chairman, reportedly made the secret counteroffer in a meeting with Rep. Jeb Hensarling of Texas, her Republican counterpart.

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