Boyle Statement on CBO Baseline

Statement

Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, issued a statement following the release of the Congressional Budget Office's (CBO) Budget and Economic Outlook: 2023 to 2033 and Federal Debt and the Statutory Limit, February 2023:

"Today's CBO reports show that, even as we continue to face global challenges and headwinds, the United States economy is resilient, and inflation will continue to decline and soon return to target levels. However, today's reports also underscore that Republicans' tired playbook of tax giveaways to the rich, dangerous brinksmanship, and punishing cuts to the programs Americans rely on is wrong for working families and wrong for our economy.

"Decades of Republicans' unpaid-for tax cuts for the mega-rich and well-connected have added trillions to the debt, deprived the economy of needed revenue, and failed to deliver their promised benefits for the economy or American workers. But instead of learning from their past mistakes, Republicans are doubling down on these failed policies.

"Once again, Republicans are choosing the wealthy over the working -- demanding cuts to the vital programs that keep our communities safe and support American families and seniors while pushing a $3 trillion deficit-busting agenda to extend the expiring Trump tax cuts to the top 0.1 percent, pad Big Pharma's profits by raising prescription drug costs, and help wealthy people and corporations to continue to cheat on their taxes. Democrats will not be lectured about fiscal responsibility by the same Republicans who drove up the deficit and are now holding our entire economy hostage by refusing to pay the bill.

"When you look at where the United States economy is now versus all our peer countries, you would rather be the United States than any other country. As previous CBO reports have shown, our record-breaking recovery did not happen by accident. As Americans, we should all be proud that no country on earth has come out of the pandemic economically stronger than the United States of America. As Republicans continue to threaten the American people with a self-inflicted and avoidable economic catastrophe, House Democrats will keep fighting to create more jobs, lower costs, protect Social Security and Medicare, and safeguard lifeline programs from Republican cuts. I look forward to reviewing President Biden's budget for FY 2024 and examining his proposals to reduce the deficit while investing in our nation's greatest resource: the American people."

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