WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) issued the following statement on the bipartisan compromise measure to avoid default and reduce the deficit:

“Defaulting on our obligations would be disastrous for the people of Ohio and our economy. I would prefer a more balanced compromise – one that cuts both spending and tax loopholes. But this bipartisan agreement allows us to avoid default while taking an important first step toward reducing the deficit. It rejects House attempts to dismantle Medicare by turning it over to the insurance companies and beats back efforts to undermine Social Security and other lifelines for middle class Ohioans.

“There is much more to be done in the months ahead.  I’ll be fighting to strengthen the economic security of middle class families and to protect Social Security and Medicare. I’ll be focused on putting Americans back to work, and ensuring that the wealthiest among us pay their fair share. And I’ll be working to stop tax breaks for companies that move jobs overseas. The important task of reducing the deficit will require shared sacrifice, and must not fall entirely on working families.”