Senator Bernie Sanders (D-VT) took to the floor today to speak out in opposition to the debt deal as negotiated by the White House and Congress. He says the deal is "grotesquely unfair and it is also bad economic policy." Specifically, he criticizes the deal for leaving Social Security, Medicare, and Medicaid on the table as part of deeper cuts to follow while letting top earners off the hook, going so far as to say that the rich and the powerful are asked to contribute "not one cent" towards reducing the deficit.

6:53 PM ET: This update comes from Senator Sanders' website:

Sen. Bernie Sanders today issued the following statement on why he plans to vote against a deficit-reduction deal proposed by the White House and congressional leaders:

"The wealthiest people in this country and the largest corporations who are doing phenomenally well today are not being asked to contribute one penny in shared sacrifice toward deficit reduction.  On the other hand, middle-class and working families who are suffering terribly in the midst of this horrible recession are being asked to shoulder 100 percent of the human cost of lowering our deficit. This is not only grossly unfair, it is bad economic policy.

"This two-part deficit-reduction legislation is complicated, and it is impossible to predict exactly which programs will be cut and by how much because the process requires action by appropriation committees and a new super committee in months to come.

"But it is very clear that there will be devastating cuts to education, infrastructure,  Head Start and child care, LIHEAP, community health centers, environmental protection, affordable housing and many, many other programs. I am also concerned that when we hear that ‘everything is on the table' in terms of what this super committee deals with it will certainly include devastating cuts to Social Security, Medicare, Medicaid and veterans' needs, while protecting the interests of the wealthy and large corporations.

"This country needs deficit reduction, but we need to do it in a way that is fair and which will result in economic growth and job creation.  This proposal does neither and I will oppose it."