WASHINGTON (Reuters) – US lawmakers abandoned their high-profile effort to rein in the country’s ballooning debt yesterday in a sign that Washington likely will not be able to resolve a dispute over taxes and spending until 2013.
The admission of defeat by Republicans and Democrats on a 12-member congressional “super committee” is likely to cement perceptions among voters and investors that politicians are too divided to tackle trillion-dollar budget deficits and a national debt that now is roughly equal to the US economy.
“Despite our inability to bridge
