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Senate Budget Committee Chairman Judd Gregg Comments on Congressional Budget Office's FY 2006 Deficit Projection

Date: Aug. 4, 2006
Issues: Government Budget and Spending


Senate Budget Committee Chairman Judd Gregg Comments on
Congressional Budget Office's FY 2006 Deficit Projection

"The Congressional Budget Office's reduced FY 2006 deficit projection of $260 billion
is very encouraging news. Republican pro-growth tax policies continue to fuel a strong
economy while generating surging revenues for the federal treasury. These policies are
aggressively reducing the deficit, and we are now well ahead of schedule to halve the
deficit by 2009.

"However, we cannot turn a blind eye to our long-term fiscal challenges. With the
massive Baby Boom generation beginning to retire in 2008 and healthcare costs spiraling
ever higher, we are facing a fiscal and demographic tsunami. We need to put the brakes
on federal spending so that the next generation inherits a government they can afford. My
spending reduction package, the Stop Over-Spending Act of 2006, or S.O.S., enforces
caps on annual spending, eliminates wasteful spending, reduces the deficit and seeks
bipartisan solutions to the unchecked growth of entitlement programs. Congress must
stop looking at the next election and instead look at the next generation."

http://budget.senate.gov/republican/pressarchive/2006-08-04CBODeficitProj.pdf

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