Jeff Bingaman United States Senator from New Mexico

WASHINGTON – U.S. Senator Jeff Bingaman issued the following statement after learning the Congressional debt reduction 'super committee' announced it could not reach an agreement on how to reduce the deficit by $1.2 trillion:

"It's unfortunate that the super committee was unable to agree on a plan to reduce our long-term debt.  Unfortunately, Republicans took a hard stance against revenue increases, even for the wealthiest Americans, and even went so far as to seek additional tax cuts for that group – a move that would have increased our debt even further.

"In the past few months, Congress cut federal spending by $917 billion, and further cuts of $1.2 trillion are set to occur.  But I believe we should develop a more balanced approach.  Congress should continue to work to find a solution that includes not only cuts, but requires a shared sacrifice from everyone, including millionaires."