- Associated Press - Friday, December 3, 2010

WASHINGTON (AP) — An austere deficit-cutting plan by President Barack Obama’s budget commission has failed to win the supermajority required to force a quick vote in Congress.

The plan won support from 11 of 18 commission members. Fourteen were needed for official approval.

The plan would have cut $4 trillion from the budget over the coming decade through a combination of curbs to Social Security, tax increases and a slew of other spending cuts.

Commission co-chairman Erskine Bowles declared victory, nevertheless. He said the panel’s nonpartisan deliberations showed it’s possible to have an “adult conversation” about cutting the deficit.