MEDIA RELEASE

U.S. Sen. Daniel K. Akaka (D-Hawaii) released the following statement in response to the announcement by the Joint Select Committee on Deficit Reduction that no agreement on a plan for deficit reduction would be reached in time for the mandated Thanksgiving deadline.

“I am disappointed that the disagreements over budgetary and policy issues that have divided the 112th Congress have again prevented compromise as the Joint Committee failed to meet its statutory mandate to reduce the deficit.

“We all agree that reductions to federal spending can and must be made. But they must incorporate shared, equitable sacrifice, and should only be made after careful consideration of the real costs involved. Likewise, any cuts to our defense spending — critical to securing American interests at home and abroad — should only be made after careful consideration of the risks to our security.

“It is unfair and irresponsible to protect tax breaks for the wealthiest in our nation, while slashing the safety net programs that so many Americans depend upon. We must come together as a Congress and as a Nation to make the difficult, balanced sacrifices that are needed.”