shepard: time is running out for the so-called congressional super committee to cut the united states deficit by more than a trillion dollars. as we head into a critical week. one key democratic lawmaker is predicting a massive failure. the new york senator charles schumer today saying and i quote i don t think the super committee is going to succeed. if he is right, and these folks can t bang out a deal by the time thanksgiving rolls around, there will be enormous consequences. $1.2 trillion worth of automatic spending cuts to be exact. set to kick in 2013 through a process called sequestration. a lot riding on the deal for the nation s military and medicare. both sides weighing on a potential backup plan. congress cannot bind of actions of future congresses so the sequestration is not engraved on golden tablets. i think we would have sufficient support to prevent