Katie Grant, 202-225-3130
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today after the Congressional Budget Office released their Long-term Budget Outlook:
“CBO’s Long-Term Budget Outlook makes it abundantly clear that our long-term structural problems should be just as concerning as the looming fiscal cliff, including the budget sequester, facing us at the end of this year. CBO’s report is a warning that we must get our fiscal house in order by achieving big and balanced deficit reduction that includes both spending and revenues. Cutting domestic spending alone won’t work, and it will require both parties working together. I still believe this is a goal we must pursue in Congress this year – and one that is achievable. Doing so would provide certainty to businesses that have been holding back investment and could constitute the single greatest stimulus to our economy and job creation.
“However, Republican leaders’ insistence on finding savings only from cuts to essential services for the most vulnerable Americans will not get us any closer to the real, comprehensive deficit reduction solution we need. This annual CBO long-term outlook ought to be a wake-up call to the scope of our challenges. Democrats stand ready to do our part to meet them.”