By Christina Cheddar Berk, CNBC News Editor
NEW YORK ( CNBC) -- The special deficit-reduction panel appears to be making little progress in trimming more than a trillion dollars from the federal budget -- and that has prompted some to question whether this will take a bite out of consumer spending this holiday season. The Super Committee has been negotiating behind closed doors since September, and they have until Nov. 23 -- that's the day before Thanksgiving -- to reach an agreement on at least $1.2 trillion in deficit reduction measures. Some retail experts fear that further political gridlock in Washington will make American consumers even more hesitant to spend during the busiest shopping period of the year.
| More from CNBC The Fed's $40 Billion Iraq Money Trail |
Why You Should Invest Like a Girl
Obama's Refi Plan Is Not a Housing Stimulus