Despite speculation otherwise, the deficit-reduction super committee will not seek an extension on its Nov. 23 deadline, committee member Rep. Chris Van Hollen, D-Md., said on Monday.
“More time won’t get us there,” he said on MSNBC’s Morning Joe on Monday, adding, “No, we're not talking about an extension.”
Van Hollen said pressure from constituents contributes to the Joint Select Committee on Deficit Reduction's sense of urgency, as does the potential to hurt markets by failing to reach agreement and triggering automatic, broad cuts. The situation in Greece contributed to growing fears of a similar economic catastrophe in the U.S. and concern over the potential fallout of the European debt crisis, Van Hollen said.
“This is the moment to get it done, if we’re going to get it done,” he said.