Six super committee members emerged from a two-hour meeting Friday afternoon saying they are still working toward an agreement -- despite rising expectations the panel will fail.

Senate Finance Chairman Max Baucus, D-Mont., seemed to confirm that members are considering a fallback worth less than the panel’s $1.2 trillion goal. Aides and lobbyists say an agreement worth $500 billion to $1 trillion is under discussion. Asked about that prospect, Baucus he will accept “whatever works,” adding that “there are many ways to skin a cat.”

“We’re trying to get an agreement that is acceptable to both sides,” he added.

Also present at the meeting were Sens. Jon Kyl, R-Ariz., Rob Portman, R-Ohio, Pat Toomey, R-Pa., John Kerry, D-Mass., and Rep. Chris Van Hollen, D-Md. Talks are set to continue this weekend ahead of an unofficial Monday deadline. The panel has an official deadline of Wednesday.

Committee and leadership aides, however, continue to say the panel will likely fail to reach any deal. One aide to a committee member called the Friday meeting “a joke,” arguing the panel is deadlocked and merely going through the motions of seeking an agreement.

Leaders in both parties continue to monitor talks. An aide to Senate Majority LeaderHarry Reid, D-Nev., said Reid this week put out feelers to House Speaker John Boehner, R-Ohio, but concluded the sides are too far apart for Reid to move in to “help close a deal.”

Democrats argue the main obstacle is Republican insistence on extending Bush administration income tax cuts for top income levels as part of any agreement.