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Post by bot on Oct 9, 2015 19:19:28 GMT -5
Hoyer Statement on the Budget Deficit for Fiscal Year 2015
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the Congressional Budget Office's monthly budget review for September, the final report for FY 2015. The review showed that the federal government ran a deficit of $435 billion in FY 2015, the smallest deficit since 2007:
“According to the nonpartisan Congressional Budget Office’s monthly review released this afternoon, the federal budget deficit for Fiscal Year 2015 was the lowest on record since the Great Recession began eight years ago. While a deficit of $435 billion over the course of the past year represents important progress, long term demographic trends and compounding interest on the debt demand that Congress work together to place America on a more fiscally sustainable path forward. This begins with reaching a budget agreement this month to replace the harmful sequester with a more responsible strategy for deficit reduction.
“Democrats and Republicans ought to agree to a budget that enables Congress to strengthen our economic competitiveness and expand our nation’s middle class, which are ultimately the best ingredients for a return to the kind of budget surpluses we saw during the Clinton Administration. I will continue to push for bipartisan compromise to reach such an agreement and put American back on a sound and responsible fiscal footing.”
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