Several attempts at reaching a grand bargain on the deficit have blown up over the House GOP's insistence on not increasing revenue. Reid last week warned that the committee would not produce a bill unless Republicans agreed to revenue.
Failure to produce an agreement would trigger an automatic $1.2 trillion cut in defense spending, Medicare and other programs starting Jan. 1, 2013 — the same date the 2001 and 2003 Bush tax cuts expire.
Sen Mary Landrieu, D-La., poses for a selfie with LSU football fans as she campaigns at tailgate parties on the Louisiana State University campus before the LSU-Mississippi State game on Saturday, Sept. 20, 2014. Buy photo here.