Today, Congressman Stutzman issued the following statement regarding the updated Budget and Economic Outlook released by the Congressional Budget Office (CBO).
"Sadly, today's report echoes what Hoosier families already know: higher taxes and more deficit spending push us closer to more economic trouble," said Stutzman. "We are in the midst of the worst unemployment crisis since the Great Depression and the national debt will soon surpass $16 trillion. President Obama's tax hike will only make things worse in the real economy. CBO's report confirms that these massive tax increases could send us into another recession. Instead of increasing taxes and deficits, my colleagues and I have offered a different vision for America. If the threat of a recession isn't enough to get Washington to put aside election year games, I'm not sure what is."
Earlier this month, Congressman Stutzman voted to stop the President's Massive Tax Hike which could cost Indiana over 15,000 jobs.
Today, the CBO released its updated Budget and Economic Outlook which forecasts a "deep recession" if the Administration's plan to increase taxes goes into effect in January. The report also shows that the deficit will exceed $ 1 trillion for the fourth straight year and the national debt will grow by $10 trillion over the next decade.