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Debt Panel Rejects $3.8 Trillion Budget-Cutting Plan

President Barack Obama’s debt commission rejected a $3.8 trillion budget-cutting plan as members from both parties opposed its mix of tax increases and spending cuts in programs such as Social Security and Medicare.

The seven votes against the plan were enough to sink it, even though 11 of the 18 members voted in favor, because 14 were needed to forward the proposal to Congress for consideration. Five of the six senators on the panel backed the plan, as did five of the six unelected officials. Five of six House members opposed it, with the sole support coming from South Carolina Democrat John Spratt, who was defeated in the Nov. 2 election.