Citing an inability to bridge significant differences, a congressional committee announced Monday afternoon that it could not agree on how to reduce the deficit by the group's midnight deadline. "With a $15 trillion national debt, deficit reduction is clearly a huge issue for the country. I am disappointed, but not surprised, that the super committee was unable to reach agreement," said Sen. Bernie Sanders, a member of the Senate Budget Committee.
"The American people have made it very clear that they believe the wealthiest people in the country - who are doing phenomenally well and are paying the lowest effective tax rate in decades - must start sharing some of the burden of deficit reduction. The American people have made it clear that they favor closing tax loopholes for profitable corporations. The American people have made it clear that it is time to take a hard look at mushrooming defense spending.
"Unfortunately, the Republicans in Congress won't do what big majorities of Americans want Congress to do. The only way Republicans want to lower deficits is by cutting Social Security, Medicare, Medicaid, education, and the environment, while providing even more tax breaks for millionaires and profitable corporations.
"Now, with more than one year to go before automatic spending cuts take effect, there is time for Congress to do what the American people want."