Tipton: $590 Billion Deficit Projection Shows Need for A Better Way to Operate

Statement

Congressman Scott Tipton (CO-03) issued the following statement after the Congressional Budget Office (CBO) projected that the 2016 federal deficit will reach $590 billion, which is a $152 billion increase from 2015:

"As a small business owner, I spent 30 years signing the front of paychecks and writing business plans. At its core, business planning is simple: identify your costs, predict your revenues, and make sure your business will be in the black at the end of the year. The federal government hasn't been in the black since 2001. Any business that operated this way would have closed a long time ago.

"For the past eight years, this administration has spent money we don't have and issued thousands of regulations that have reduced revenues and stunted job creation. This is a bad combination and the reason why the deficit is projected to jump back above $500 billion this year.

"There is a better way to operate, and the House is already working hard to get us there. We've developed plans to regulate smarter, reform the tax code, and shrink the size of the federal government. Cutting down on needless regulations, reducing wasteful spending, and simplifying our tax code will restore economic growth and the jobs that come along with a healthy economy. It's not going to happen overnight, but the House is moving in the right direction to get us back into the black."

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