Late Monday afternoon, the congressional Super-Committee announced their failure to put forward a proposal to cut $1.2 trillion from the U.S. budget over the next 10 years.
Time and time again, the Super-Committee proved unable to reach an agreement on long-term deficit reduction for one reason and one reason only:
Republicans refused to make the wealthiest Americans pay their fair share.
Despite an overwhelming majority of Americans wanting the wealthiest among us to pay their fair share, Republicans refused to budge from their stance that Bush tax cuts be preserved while cutting programs that the middle class, seniors, and most Americans depend on.
Democrats on the Super-Committee stood their ground that the rich pay their fair share or no deal. They insisted that everyone in America pay their fair share and prevented devastating cuts to Medicaid, Medicare and other programs that millions of Americans rely on for their healthcare and livelihoods.
By rejecting the Republican proposals that came out of the Super-Committee, Democrats were expressing the views of the vast majority of Americans and standing behind them. While these efforts were able to prevent a bad deal from coming out of the Super-Committee, this fight is far from over.
“Now, it’s up to both chambers to focus on putting Americans back to work. That is the best way to reduce our deficit,” said SEIU President Mary Kay Henry in a statement following the announcement by the Joint Select Committee on Deficit Reduction. “A cuts-only approach will not work and will end up shifting responsibility to already stretched state budgets and cost millions of jobs.”
In a White House press briefing Monday evening, President Obama took Republicans to task for not proposing any serious deficit reduction proposals that would required shared sacrifice:
“There’s still too many Republicans in Congress who have refused to listen to the voices of reason and compromise that are coming from outside of Washington. They continue to insist on protecting $100 billion worth of tax cuts for the wealthiest 2 percent of Americans at any cost […]”
More details from the New York Times on the failure of the Super-Committee to propose a plan to identify $1.2 trillion in deficit reductions in time for the November 23rd deadline.