Both Parties Set to Use Failure of Debt Deal for 2012 Campaign

The failure of a U.S. congressional panel to reach a deficit-reduction deal was an option leaders of both parties anticipated and spent months laying political groundwork to manage.

The demise of the supercommittee kicks the issue into the 2012 election campaign, framing a fight over taxation, fairness in shouldering the burdens of deficit reduction and who is to blame for Washington gridlock.