Supercommittee fails, McHenry blames Obama

Washington, D.C. - Congressman Patrick McHenry (NC-10), Chairman of the Oversight Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, issued the following statement in reaction to the failed negotiations of the Joint Select Committee on Deficit Reduction:

"This is another missed opportunity. House Republicans were able to find over $6 trillion in cuts and Democrats couldn't find the will to save $1.2 trillion unless massive, harmful tax increases were part of the deal," McHenry stated. "The White House hasn't been a serious partner for job creation and deficit reduction. The lack of leadership from the President to push for a reasonable agreement is very disappointing."