Getting Republicans and Democrats to agree on anything these days seems nigh on impossible, especially when it comes to debt reduction in the United States.
A super committee of six politicians from each side was supposed to come up with solutions to America's debt crisis and find $1.2 trillion in savings.
But that has not happened and the committee cannot even agree on whether its discussions have officially broken down or not.
Now it appears they are simply working on the best way to say they have failed.
The committee's co-chairman, Republican representative Jeb Hensarling, sees a huge missed opportunity.
"Nobody wants to give up hope.
Reality is, to some extent, starting to overtake hope.
We need to come to an agreement and we have to get it drafted," he said.
"It has to be estimated by the congressional budget office by the end of Monday.
So it's a daunting challenge, no doubt about it." The committee's creation itself was part of a compromise at the height of the debt ceiling crisis that almost sent the US bankrupt.
It was tasked with finding the savings needed to slash the deficit or automatic cuts to budgets would take place beginning in 2013 - half of those cuts in defence.
Democratic co-chair Patty Murray insists she will stay at the table until the very end.
"I'm ready, I'm waiting.
Today I'll be at the table all night long," she said.
Democrats and Republicans never got past the ideological argument over spending cuts versus tax increases.
"When our democratic friends are unable to cut even a dollar in spending without saying it has to be accompanied by tax increases, I think that tells you all you need to know about our runaway spending," Republican Jon Kyl said.
With Europe in turmoil and the US economy still fragile, Democrat senator John Kerry paints a bleak picture.
"There is a real threat that not only will there be a downgrade but that the market on Monday will look again at Washington and say 'you guys can't get the job done'," he said.
"Just the political confusion and gridlock is enough to say to the world: 'America can't get its act together'." Moody's chief economist Mark Zandi is not expecting a big impact on the markets in the short term because they had already factored in failure.
"I do think however, because it looks like the committee is going to punt, that we've got some bigger problems dead ahead of us and those could be inflection points for the financial markets," he said.
"So we're not out of the woods yet, we could still have some problems.
In fact I would count on it." Mr Zandi says the committee's inability to come up with the savings will have significant implications for the country's economic growth as it heads into 2012.
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