The "failure" of the supercommittee is better described as a success. Republicans stood firm against new taxes and got what they set out to achieve: deficit reduction that relies 100% on spending cuts.
With the supercommittee's demise, Washington went into finger-pointing mode. Democrats and Republicans blamed each other for not budging on taxes. Mitt Romney blamed President Obama for his lack of leadership. And while Obama hasn't blamed anyone yet, we're pretty sure it won't be himself.
This blame game is woefully misguided. Given the political environment, Republicans were right to hang tough on tax hikes, take the $1.2 trillion in spending reductions, and hope Obama loses the next election so we can finally get serious about our debt crisis.