Portman Statement on CBO's 2014 Long-Term Budget Outlook

Press Release

Today, U.S. Senator Rob Portman (R-Ohio) released the following statement on
the nonpartisan Congressional Budget Office's (CBO) 2014 Long-Term Budget
Outlook:

"When it comes to the real fiscal problems we face, when it comes to the mandatory
spending that is driving our country towards bankruptcy and threatening to
undermine programs like Social Security, Medicare, and Medicaid--on which
millions of Americans rely--we have done nothing," said Portman. "Today's report
is another reminder that we cannot continue to kick the can down the road. We
need reform, and we need it now."

Among the findings in the CBO's new analysis:

CBO projects the national debt to soar by a staggering $40 trillion over the next two decades. That is more than $250,000 per household of new government debt.

CBO confirms that soaring spending -- particularly on entitlements -- is responsible for 100 percent of the long-term increase in budget deficits. Tax revenues are expected to remain well above their historic average, but cannot keep up with escalating entitlement costs.

Over the next decade, Obamacare is the single largest driver of rising federal health spending -- more expensive than retiring baby boomers or healthcare inflati

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