Hoyer Statement on CBO Deficit Report

For Immediate Release:

January 26, 2011

Contact:

Katie Grant, 202-225-3130

WASHINGTON, DC - Democratic Whip Steny H. Hoyer (MD) released the following statement today after the non-partisan Congressional Budget Office released its deficit report:

“Today’s deficit report from the nonpartisan Congressional Budget Office shows our deficit is at an unsustainable level, clearly demonstrating the need for bipartisan action to put our country’s fiscal house in order. It is encouraging that the CBO’s forecast for economic growth has improved since its last report in August. Our economy is expected to continue growing--a positive outlook due, in part, to the Democratic policies that have helped put Americans back to work.

"Now, it’s time to make the hard choices necessary to get our budget under control, without damaging the economic recovery. President Obama struck that balance in his State of the Union address last night: advocating for job-creating investments in innovation, education, and infrastructure, while laying out some important steps toward restoring fiscal balance. More work is needed and I hope that both parties can come together to reform and simplify our tax code in a way that creates jobs and reduces the deficit, to scrutinize defense spending for waste, and to preserve our entitlement programs for generations to come.”

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