"While it is disappointing the Joint Committee was unable to reach agreement on a deficit reduction plan, it is not the end of the story.  The fiscal challenge remains and has to be dealt with.  A balanced and fair package has to include both entitlement and tax reforms that lower spending and raise revenue.

"A bipartisan, comprehensive, and balanced deficit reduction plan must be enacted.  Fortunately, there is a strong and growing block of support in Congress for such a plan.  Already, more than 100 Members of the House and 45 Members of the Senate have expressed their desire to reach agreement on a bipartisan plan that truly puts our fiscal house in order.

"We need to build on that support and continue to push for a bipartisan agreement that can pass Congress and reach the President's desk.  The key remains finding a compromise with the right mix of entitlement and tax reforms.  The nation's future economic strength and security depends on our ability to bridge our differences and solve this problem."

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Contact: Stu Nagurka (202) 224-7436
Steve Posner (202) 224-7925