FreedomWorks Statement in Response to CBO Projection of $1 Trillion Budget Gap by 2020
WASHINGTON, D.C. — In response to the release today of the updated Congressional Budget Office (CBO) report that projects the United States’ budget gap to exceed $1 trillion in 2020, two years sooner than expected, Jason Pye, FreedomWorks Vice President of Legislative Affairs, commented:
“Coming on the heels of last month’s horrendously irresponsible budget deal, which was agreed to by Republican leadership, these CBO projections are unwelcome news for the United States’ fiscal sustainability. By the CBO’s updated projections, the budget deficit is set to hit more than $1 trillion two years sooner than expected. The spending-to-GDP ratio is set to rise nearly as high as it was during the 2009 recession. This will have catastrophic consequences for the United States economy when the debt crisis hits, as interest rates rise and private investment is crowded out.
“Seeing as every budget deal since 2013 has failed to get the United States’ fiscal house in order, Congress will likely keep its head in the sand. But something must be done soon, and that means taking a hard look at mandatory spending, the root cause of the United States’ fiscal woes. Without comprehensive entitlement reform and a willingness by both parties to rein in out of control spending, economic uncertainty is right around the corner, as indicated by today’s updated CBO projections.”
Source: http://www.freedomworks.org/content/freedomworks-statement-response-cbo-projection-1-trillion-budget-gap-2020
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).