* All 12 committee members are picked, the supercommittee MUST meet by 16 September - at the moment they’re NOT required to meet in public, though there’s a push in Congress for public meetings, and to force them to declare their fundraising.

* They’re saying nice things but: Sen Pat Toomey (R) says the panel must focus on cutting spending, regulations; and Rep Jim Clyburn (D) says the panel needs to work to close the growing gap that divides rich and poor in America, says the human side gets lost in the debt and deficit talk.

* However, others say they’re flexible: Rep Xavier Becerra (D) pledges to “be as open as possible, check my ego and my preconditions at the door.”

* Rep Dave Camp (R) who chairs the tax writing Ways and Means Committee says nothing should be off limits.

* Sen Patty Murray (D) the co chair (and the only woman) says members need to “look each other in the eyes and find common  values that we have to move forward”

** IF they don’t, there is an automatic trigger of $1.2 trillion in cuts over 10 years split between domestic and military spending.

** Chances they’ll reach consensus: 50/50 at this time - chances they’ll reach consensus after they’ve met.