(CNN) - New York City Mayor Michael Bloomberg blasted Congress and President Obama for the failure of the so-called "super committee" to reach a deficit-reduction package Monday, calling the effects of partisan collapse "mind-boggling."
"It is this cowardice and this partisanship in Washington that is really hurting our country. If you take a look at whether it was the deficit ceiling fight or this fight, the number of jobs that were destroyed, the wealth that was ruined and taken away. It's just mind-boggling," Bloomberg told CNN Chief National Correspondent John King.
Programming note: GOP presidential candidates face off at 8 p.m. ET Tuesday, November 22, in the CNN Republican National Security Debate in Washington, D.C.
"Both sides of the aisle, both ends of Pennsylvania Avenue – they cannot even come up with something that would not have even solved the problem," Bloomberg said, lamenting that the committee's target of cutting $1.2 trillion in debt fell far short of what was needed to restore the nation's fiscal health.
Bloomberg insisted the only path to drastically cut the deficit would include both an increase in revenues and a decrease in government spending.
"Right now, the difference is so large, you couldn't possibly do it with either one. You have to do both. And I don't care what you promise your constituents. I don't care what your constituents want. Those are the facts," Bloomberg said.
He argued that the $1.2 trillion the committee was trying to save would only cut about 13% of the deficit.
"And today, we have the public debt of $10 trillion. In ten years it will be $20 trillion," Bloomberg said.
"And even then we would be doing what we're doing today. Today, the government is borrowing one out of every $3 that it spends. You could not do that personally because nobody would loan you the money."
Appearing on John King, USA shortly after the co-chairs of the bipartisan panel released a statement officially announcing the committee's failure to reach an agreement by Wednesday's deadline, Bloomberg issued an appeal to President Obama to "to lead the country and to lead Congress."
"The president as the chief executive of the country has the responsibility to make things come together. I understand the problem of partisanship. And the jealousies and the pettiness and selfishness that occur at the other end of Pennsylvania Avenue," the three-term independent mayor said.
"But in the end, no CEO would send a proposal and just say, well, let's see what happens. You sent a proposal and then you go fight for it."
Do you want a president or a dictator? Do you know how this government works or does not work?
The problem is that the GOP was held to the fire by people like Norquist. They couldn't go against one of the people that put them in power. It would be like biting the hand that feeds you.
Shame on the republicans for picking their wealthy friends over our National Security........
Come next November, the voters will veto Obama, so we can get some improvement in this economy.
If you look at Greece and Italy, you will find that change starts at the top.
Come on, Mr. Bloomberg, you know better than that! Political correctness is nice but you know who is REALLY putting cogs in the wheel ..............
I don't know what Bloomberg expects the President to do when half the committee is dedicated solely to his removal. But Bloomberg is absolutely correct about the prescription to the country's fiscal problem. The dems or on board, waiting forr th tea party....
A republican that makes sense.
Bloomberg was correct. Obama was still not working hard as he was likable David Dinkins II.
Who is he to blast anyone? Look how he is denying his people their First Amendment Rights. If the Republicans have it their way there will not be any freedom of speech, freedom of thoughts or freedom to vote.
Ur time is up Bloomberg
The mayor is right. Cutting spending without raising revenue does nothing, but the Republicans have signed their treasonous no tax pledge to Norquist. Their loyalties lie with him, not with the American people.
I totally and vehemently blast GOP for this mess, idiot...true...
Bloomberg for President. At last a sane Republican.
I do not get it when people throw blames to the President. He did delegate the work to the Super Committee consisted with equal number from different sides. All of them are grown up. All of them have work experience and all of them were obliged to reason out and act accordingly. The West did not meet the East, each side went to its own direction. The President can not fire all of them because the system does not work that way. I do not see why he should be blamed on this issue.
Blame the GOP. They're the ones creating the partisanship. It's their fault.
It's interesting to hear experienced politicians tell the President of the United States that he should "lead Congress" as if the concept of separation of powers only applies when it doesn't apply. Obama cannot lead Congress, and particularly this Congress. This Congress has decided that they will not endorse anything that Obama even remotely supports – no matter what adverse impact their tactics have for the country. It is quite an unfortunate situation, but the only remedy for the American people is at the ballot box. Let's get rid of the do-nothing party of No.
Bloomberg would have a lot more credibility if he weren't being so blatantly un-American in his treatment of OWS.