Reactions to the supercommittee failure are pouring in, and they tend to be partisan and angry. The sharply divided reactions are probably best reflected in the views of the two Senate leaders, Democratic Majority Leader Harry Reid and GOP Leader Mitch McConnell.
Here are some of Reid's comments:
“The American people are tired of their elected leaders listening to the extreme voices in their party instead of the voices of reason. I am disappointed that Republicans never found the courage to ignore Tea Party extremists and millionaire lobbyists like Grover Norquist, and listen instead to the overwhelming majority of Americans – including the vast majority of Republicans – who want a balanced approach to deficit reduction.
"For the good of our country, Democrats were prepared to strike a grand bargain that would make painful cuts while asking millionaires to pay their fair share, and we put our willingness on paper. But Republicans never came close to meeting us halfway. “Instead, Republicans relentlessly sought to end Medicare as we know it by privatizing the program and putting seniors and future generations at the mercy of insurance companies. In addition, Republicans insisted on expanding President Bush’s tax giveaways to millionaires, an approach that would have made our deficit problems bigger, not smaller, while increasing the gap between the top one percent of taxpayers and everyone else. Democrats are open to reforming our tax code, but we will not go along with efforts to provide even more giveaways to millionaires at the expense of the middle class."
Here's some of McConnell:
“For those of us who hoped that this committee could make some of the tough decisions President Obama continues to avoid, the Democrats’ rejection of not one but two good-faith Republican proposals is deeply disappointing. The good news is that even without an agreement, $1.2 trillion will still be cut from the deficit. Now it falls on the President to ensure that the defense cuts he insisted upon do not undermine national security, as Defense Secretary Leon Panetta has warned.
“With this administration's out-of-control federal spending over the past three years, unemployment stuck at 9 percent, and a $15 trillion debt which grows daily, we felt it was necessary to create this extraordinary mechanism to reduce spending and make needed changes. Republicans viewed this committee as a golden opportunity to change the direction of the nation's fiscal trajectory and create a better environment for job growth. This was reflected in the seriousness of our appointees, and it was reflected in two Republican proposals that were designed to attract Democratic support."