Report Adds Sense of Urgency to Cutting Spending
Congressman Doug Lamborn (CO-05) issued the following statement today regarding the long-term budget analysis released by the independent Congressional Budget Office (CBO) and its implications for our economy and job creation.
"Since President Obama came into office, we have had nothing but bad economic news. This latest report is just one of many dismal reports on our nation's staggering federal debt and its dire consequences for job creation.
"The CBO's long-term outlook is sobering. It notes that the federal debt held by the public has nearly doubled since 2008 and is now almost 70 percent of our entire economy. If Congress does not put an end to this out-of-control spending, the CBO warns the debt will lead to "lower economic growth', in other words, continued high unemployment for years to come."
"American families want Washington to cut spending and grow the economy by eliminating excess regulations and burdensome taxes that are crushing our small businesses." -- Congressman Doug Lamborn (CO-05)