Richmond, VA - Governor Tim Kaine released the following statement today after the Joint Select Committee on Deficit Reduction announced that it would miss its deadline to present a plan to reduce federal spending by $1.2 trillion.
“Congress has, yet again, let Americans down by demonstrating that they will not work together to find common ground. All know that our fiscal situation needs repair and our economy needs rebuilding. But, our elected leadership chooses the path of partisan blame and delay instead of making the tough decisions that the nation expects and needs.
“The only way to deal with the twin goals of reducing the deficit and growing the economy is through expense cuts, tax reform and key investments. This was the path I pursued as Governor--cutting more than 5 billion dollars while also finding revenue for expansions to our higher education and transportation systems. We can do the same at the federal level, but only if we elect people with a proven record of working together.
“I urge Congress, after the flameout of the supercommittee process, to tackle the issue together. There are good models on the table--the Simpson/Bowles proposal and the Gang of Six--that can be the basis of a meaningful solution that will avoid harmful cuts to defense and health care, cuts that have a particularly negative impact on Virginia. There's only one reason for failure--Congress placing their own political self-interest above the national interest.”