Congressman Gary Miller issued the following statement after the Joint Select Committee on Deficit Reduction announced this evening that it has failed to reach an agreement on deficit reduction:
"It is shameful that the so-called "Super Committee' has failed to reach agreement to cut spending. The Budget Control Act charged the Super Committee to make cuts to our bloated federal budget. While $1.2 trillion sounds like a lot, it is to be over ten years -- or $120 billion a year. This was just the tip of the iceberg of what needs to happen to get our country back on track. The savings and cuts the Super Committee was to find pales in comparison with the magnitude of our nation's spending problem. These spending cuts would amount to a mere three percent of the annual budget of the United States.
I am worried that our nation's credit rating and long-term fiscal health is at risk if Congress can't even take this modest step to stop spending. This isn't supposed to be about more spending paid for by additional tax hikes on American families and job creators. It is time for Washington to set politics aside and get to work addressing the root causes of our nation's $15 trillion debt: out-of-control spending and borrowing."