• They’ve still got a year to figure it out. They can still come together around a balanced plan. I believe Democrats are prepared to do so. My expect is that there are some Republicans who are interested in preventing the automatic cuts from taking place.
• President Barack Obama • Discussing the failure of the supercommittee to make a deal on cuts, as required by the debt ceiling deal he made in August. The president’s tone was tough — “I will veto any effort to get rid of those spending cuts,” he said — but did offer some wiggle room for Congress to get their act together. The cuts — half defense, half domestic — offer a lot of pain for both sides of the aisle, so who knows? Maybe we’ll see a deal — perhaps the elusive “balanced” one the president is pitching. source

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