DEBT PANEL FAILS TO REACH RESOLVE
 Pray for partisanship to be set aside, and that important national issues be agreed upon. Pray for elected officials who are willing to work for the good of the country, and not pushing their personal ideologies at the expense of the nation's well being.
As these automatic spending cuts are now pursued, pray that the cuts will not endanger the security of our nation, or the welfare of our citizens. Please pray for God's wisdom.
"By me kings reign and rulers make laws that are just..." (Proverbs 8:15)
"In all your ways acknowledge Him, and He shall direct your paths. Do not be wise in your own eyes; Fear the Lord and depart from evil." (Proverb 3:6, 7)
Debt Super Committee announced Monday it has failed to reach a deal to save $1.2 trillion over 10 years, adding it could not 'bridge the committee's significant differences.' The panel had until midnight on Monday to come up with a plan for reducing the federal debt by $1.2 trillion over 10 years or face automatic cuts, called "sequestration."
As the congressional super committee stands on the brink of failure, Coons and Rubio are pushing forward with a rare bipartisan effort on jobs, hoping to spur action on measures that both Republicans and Democrats support. The first-term senators have introduced the AGREE Act - the American Growth, Recovery, Empowerment and Entrepreneurship Act - putting together elements from existing jobs bills that have gained bipartisan support, hoping that passage of the economic measures will spur confidence in Washington.
"We believe that one of the things that's holding back economic activity is all the bad news and impending bad news that's coming out of Washington," Rubio said. "If we can show people that there are things we can work on together, that there is a glimmer of hope in Washington, that we are able to agree on the things we agree on, we hope to be able to get the ball rolling on a little bit of confidence over the next 12 months."
The stock market was not exactly surprised that a so-called super committee in Congress failed to reach a deal to cut the federal budget deficit. But since summer, investors have sold at the first hint of trouble.
So on Monday, they sold big. The Dow Jones industrial average lost almost 250 points on a day when investors despaired over debt problems at home and abroad. (Contributors: ABC News, Fox News, Associated Press)
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