The US supercommittee may announce failure

© Scanpix/AFP

The US supercommittee is expected to admit failure as reported by media on Sunday. The congressional committee was formed to work out a plan for decreasing the country's deficit by $1.2 trillion over the next 10 years. The plan envisaged that the sum would be automatically reduced from governmental spending. The failure to implement measures will lead to unsolved issues as payroll tax increase and expiration of the increased unemployment benefits in the end of 2011.