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reporter: the 12 law make others the committee admit there s little hope left. today the democrat and republican co-chairs are expected to issue a joint statement admitting defeat. democrats want more taxes and hands off medicare and medicaid. republicans want more cuts. we finally said is there anything that our democratic friends would be willing to cut? reporter: rests agreed to close tax loopholes on corporate jets but insisted on extending the bush tax cuts for the welt. i if they will take that off the table, we could have a $1.2 trillion agreement. reporter: the republicans insisted on over half a trillion in spending cuts. democrats said could end medicare and medicaid. democrats would agree to that. we can still get something done. reporter: a smaller plan also failed. this morning asian markets are rocky and anticipating defeat. the pentagon s on edge bracing for over a half a trillion in automatic cuts. the economist rings predicting no deal will mean
MiamiFloridaUnited-statesChesapeake-bayMarylandNew-yorkNew-hampshireAfghanistanTurkeyIllinoisGaithersburgCalifornia snow to the temperatures. that is the situation in parts of maryland and west virginia. take a look. bring back memories for everybody? this is i-68 out in garret county, maryland. you can see the snow right there on the highway. and all of this means a few school closings and delays. garret county schools closed. the mountain ridge district in allegany county are on a two- hour delay. that s the mountain ridge district only. in west virginia, the elk garden district in mineral county is on a two-hour delay. and the union educational complex in grant county is closed. hood college in frederick closed not because of snow but because of a water main break. all of the latest closings are on our website at myfoxdc.com. search under the weather tab and we post them on our facebook page and twitter account as well. ready or not, folks, it s here. tony perkins is joining us now with a look at out there and closer in. i don t want to scare everybody. it is cold here, it is wind
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