Garrett Reacts to Dismal CBO Report

Statement

By:  Scott Garrett
Date: Aug. 22, 2012
Location: Washington, DC

Rep. Scott Garrett (R-NJ), Vice Chairman of the House Budget Committee and Chairman of the Budget and Spending Task Force for the Republican Study Committee (RSC), issued the following statement today after the Congressional Budget Office (CBO) released its latest projections of the nation's budget outlook:

"Today's CBO report confirms that, under President Obama's leadership, our nation will be facing trillion-dollar-plus deficits for the fourth year in a row. The proof is in the pudding, and it is clear that the failed economic policies of the president are doing nothing to grow the economy, jumpstart job creation, and reduce the deficit. In fact, the president's prescription to create jobs--record levels of big-government spending and tax increases on every working American--has only resulted in 42 consecutive months with an unemployment rate above 8 percent. This sort of fiscal malpractice will do nothing to help struggling families facing an 8.3-percent jobless rate. Simply put, CBO's report is an urgent reminder of the need to change course. We must cut spending, prevent tax increases on families and small businesses, and put our nation back on the path to economic prosperity."