Arrington on CBO Baseline: "Houston, We Have a Problem"

Press Release

Today, the Congressional Budget Office (CBO) released their latest Budget and Economic Outlook report, commonly referred to as the baseline. Today's baseline report -- which includes projections of federal spending, revenue, surpluses or deficits, and debt -- shows that out-of-control spending by President Biden and Democrats during two years of one-party rule has exploded the national debt to unprecedented and truly unsustainable levels.

House Budget Committee Chairman Jodey Arrington (R-TX), said of the report:

"Today's report from the non-partisan CBO shows the damage of Democrat spending on the national debt is worse than we thought.

"The new Congressional Budget Office report is a clear indication that Biden's socialist policies and single-party Democrat rule has caused an unprecedented explosion in federal spending over the last two years -- 21% higher than projected when Biden took office. Biden's numerous bailouts and massive government expansion disguised as COVID relief has blown out spending and exacerbated our debt disaster. As a result, the federal debt will grow by over $22 trillion over the next 10 years.

"House Republicans must rein-in the unbridled spending and restore fiscal sanity in Washington before it's too late."

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