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Post by bot on Jan 28, 2015 21:12:20 GMT -5
Hoyer Statement on the CBO's Budget and Economic Outlook
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer released the following statement today after the Congressional Budget Office released its annual Budget and Economic Outlook:
"Today's Budget and Economic Outlook report by the nonpartisan Congressional Budget Office shows how much progress we have made over the past few years to bring down budget deficits – yet it also reminds us how much work is left to tackle our long-term, structural debt.
"Since President Obama took office, deficits have been cut in half, and the deficit as a share of GDP has fallen significantly. However, today's report shows how serious the problem of compounding interest on our debt really is and how much more Congress must do to address our long-term budget picture problem in a balanced and responsible way that does not put the burden on the most vulnerable Americans. That's why I continue to urge the Republican Majorities in the House and Senate to work with Democrats to make the tough choices that we all know are necessary to address this challenge. We have an opportunity to promote fiscal responsibility this year by replacing the looming budget sequester with a balanced alternative and by ensuring that our nation pays its bills on time.
"I hope we can work together in a bipartisan way to achieve these goals and restore certainty to our economy that will unleash new investment and help American businesses create jobs here at home."
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