Hoyer Statement on CBO's Updated Budget and Economic Outlook

For Immediate Release:

August 24, 2011

Contact:

Daniel Reilly, 202-225-3130

WASHINGTON, DC – Democratic Whip Steny H. Hoyer (MD) released the following statement today after the Congressional Budget Office updated their Budget and Economic Outlook today:

"The Congressional Budget Office's updated Budget and Economic Outlook released today reflects the seriousness of our nation's deficit problem, as well as our continuing need to create jobs. The CBO's updated baseline is another reminder that the only approach capable of matching the size of our deficit is a balanced approach, one that includes both revenues and spending cuts. It's clear that the vast majority of Americans support such an approach, as well. The Joint Committee on the deficit should pursue a deficit solution that is balanced and long-term, while working in the short term to respond to the millions of Americans who remain out of work and are in need of more job-creating efforts. That's why I've strongly advocated for both a fiscally-responsible deficit solution and the Make It In America plan, a legislative program to help create middle-class jobs by revitalizing American manufacturing and industry."

The full CBO report is available here.
###