My AC is set to 77F and the thermostat reaches that temperature but the AC keeps running. Why?
It seems that the compressor lost the refrigerator and that is why it could not go below the temperature that would force the thermostat to say enough! It makes sense if you think about it...
When I posted the question the AC was still working but at lower capacity due to the lost refrigerator. 
I did notice a strange smell (like cigarette ashes, but very light) coming out of the registries...