Transcript for Supercommittee Headed Toward a Super Failure?
-- an unusual sight on Capitol Hill yesterday a band of millionaires who stormed congress demanding higher taxes. Each of their name tags read it patriotic -- -- and -- Any attention getting demonstrations comes as the so called super committee is facing a deadline next week to cut the nation's staggering debt. ABC's Simon Miller is on Capitol Hill. Good -- good morning Robin sunny this super committee's goal was to put a gun to the head of congress to make -- deficit cuts. We'll know at this time next week with a -- achieve that mission if they failed the alternative is severe. This super committee could be heading towards a super failure. The twelve members six Democrats and six Republicans from the house and senate are tasked with a big challenge. Cut at least one point two trillion dollars from the deficit over the next ten years. Their deadline is next Wednesday now under a week away. This committee of the kinder murder after three months of hearings in secret means -- now in this stalemate. -- Democrats have -- entitlement reform on the proposals and Republicans have no negotiating on revenues were. But both sides say the other I had not gone far enough yet. I'm looking for a solution they've rejected a Republican. Projected a bipartisan solution we wait for -- solution. Rejecting. Any offer Iraq. Yeah right now. -- Criticism is easy to find on Capitol Hill so far I've not seen indication Republicans willing to agree. To this balanced approach. If the committee -- that. Sequestration is going to go forward Boortz and this means if the committee can't reach a deal is that a trigger that you can't look automatic cut -- agency with a large and painful cut. The Pentagon budget the middle truly devastate. Our national defense it will badly damaged her capabilities for the future. Members of the committee will be working in small groups all day today. Congress calls this gut check time while the committee really is in a headlock they also feel that deadline breathing down their neck.
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