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U.S. Debt Supercommittee Said Ready to Announce Failure

The deficit-cutting congressional supercommittee is expected to announce tomorrow that it has failed to reach agreement on at least $1.2 trillion in federal budget savings, a Democratic aide said.

The aide, who wasn’t authorized to discuss internal matters publicly and requested anonymity, said in an e-mail this afternoon that it was highly unlikely that the talks could be salvaged. Tomorrow is the deadline for the Congressional Budget Office to receive a plan that it can analyze before the committee’s Nov. 23 target date for reaching an agreement.