It's official. The "Super Committee" has failed in its efforts to craft a deal to reduce spending by $1.2 trillion. Certain automatic cuts will now kick in, and perhaps that will be better in the long run. Maybe we'll find out if there was a lot of fluff in entitlements and defense that this cut will expose. Maybe not.
One thing's for sure, the failure is probably the best deal the taxpayers were going to get.