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Post by bot on Jun 18, 2015 9:49:29 GMT -5
Hoyer Statement on CBO's Long-Term Budget Outlook WASHINGTON, DC - House Democratic Whip Steny H. Hoyer released the following statement today after the Congressional Budget Office released its Long-Term Budget Outlook: “The Long-Term Budget Outlook released today by the nonpartisan Congressional Budget Office is a chilling and powerful reminder of the consequences of continued partisanship. Debt as a share of our GDP, which the CBO projects will rise sharply over the long run, left unchecked, will severely limit our ability to prioritize investments in economic competitiveness and expand on efforts to combat poverty and promote opportunity. “Not only will demographic trends and growing interest payments cause these challenges to become more difficult the longer Congress waits to act, but House Republicans are pursuing an agenda that will add more to our debt burden. House Republicans have already passed $586.3 billion in unpaid-for tax cuts since January, and have scheduled two bills this week that would add another $24 billion to deficits and bend the health care cost curve back in the wrong direction. “We can’t afford to waste more time on efforts that make our problems worse. Instead, I continue to urge my colleagues to work toward a long-term deficit reduction package that is balanced and that enables us to invest in America’s economy and in its people, provides certainty, and encourages private sector job growth.” Visit www.democraticwhip.gov for more press, floor and member resources.
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