House Minority Leader Nancy Pelosi (D-CA) made the following statement regarding the failure of the Joint Committee on Deficit Reduction to reach a compromise:
“Americans demanded and Democrats repeatedly supported a big, bold, and balanced plan to reduce our deficit and grow our economy.
“The plan could not be balanced because Republicans insisted on extending the Bush tax cuts for people making more than a million dollars a year and repealing the Medicare guarantee – while refusing to accept a jobs proposal. By rejecting a balanced approach, Republicans chose to keep their pledge to Grover Norquist to protect the wealthiest one percent at all costs.
“House Democrats are grateful to our appointees – Assistant Democratic Leader James E. Clyburn, Democratic Caucus Vice Chair Xavier Becerra and Budget Committee Ranking Member Chris Van Hollen – for their leadership and willingness to make the tough choices to achieve a big, bold, and balanced plan.”