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  • The Facts on President Obama’s Budget Record
    June 7, 2012 - Despite a promise to cut the deficit in half by the end of his first term, the President has run annual deficits in excess of $1 trillion for four years in a row. Since the President took office, annual government spending has increased by 25%, with the federal government spending $3.6 trillion thi... More
  • Correcting Distortions and Myths on Tax Relief and Deficits
    June 7, 2012 - Fueled by the unsustainable growth in government spending, the federal government’s budget deficits have increased sharply in recent years, eclipsing the $1 trillion mark the past three years and are on track to do so for a fourth. Gross public debt has already surpassed the size of the entire U.S. ... More
  • House Budget Committee Hearing: The Congressional Budget Office’s Long-Term Budget Outlook
    June 6, 2012 - Welcome all to the House Budget Committee. The purpose of this hearing is to review the Long-Term Budget Outlook, and unpack the fiscal and economic challenges facing our nation. We are joined today by Doug Elmendorf, Director of the Congressional Budget Office. I want to thank you for testifying to... More
  • CBO Report: Danger Ahead Unless America Charts New Course
    June 5, 2012 - WASHINGTON – Earlier today, the Congressional Budget Office (CBO) issued the latest update of The Long-Term Budget Outlook. This report outlines a bleak fiscal and economic future, and underscores the painful consequences for American families should policymakers fail to advance fiscally responsible... More
  • Paul Ryan on the Need to Combat Cronyism and Promote Upward Mobility
    June 1, 2012 - Following another dismal jobs report, the House Budget Committee held a hearing this morning on cronyism and the government-imposed barriers to economic growth and upward mobility. Throughout this morning’s hearing, Chairman Paul Ryan of Wisconsin, former Governor Jeb Bush of Florida, and members of... More
  • House Budget Committee Hearing: The Broken Budget Process: Legislative Proposals
    May 31, 2012 - Welcome all to the House Budget Committee. The purpose of today’s hearing is to examine the need to restore responsibility and accountability to how Washington spends taxpayers’ hard-earned dollars. The breakdown of responsible budgeting is clear: out-of-control government spending; four consecutive... More
  • Chairman Ryan on the Clarifying Choice Offered by U.S. Senate’s Budget Failures
    May 16, 2012 - Washington – On the 1,113th day since Senate Democrats last passed a budget, the U.S. Senate considered a series of budget resolutions, none authored or supported by a single Senate Democrat. The national debt has eclipsed the size of the entire U.S. economy, yet the Democrat-controlled Senate has f... More
  • Ryan on Passage of Responsible Deficit Reduction Package
    May 10, 2012 - WASHINGTON – Earlier today, the U.S. House of Representatives passed H.R. 5652, the Sequester Replacement Reconciliation Act of 2012, a package of reforms aimed to avert across-the-board cuts to our armed forces and key priorities, reduce the deficit, and foster a better environment for job creation... More
  • How much does the Sequester Replacement Reconciliation Act of 2012 reduce the deficit?
    May 9, 2012 - Current CBO cost estimate of SRRA: $242.8 billion in deficit reduction The House plans to consider the Sequester Replacement Reconciliation Act of 2012 (SRRA) on Thursday, May 10. This legislation replaces the deficit reduction from a “sequester” of discretionary spending that is scheduled to occur... More
  • Military-Crippling Sequester Must Be Stopped
    May 9, 2012 - Last year, as the federal government approached a limit on how much it could legally borrow, the Obama administration asked Congress to rubber-stamp an increase in the government's borrowing authority without any spending cuts to match. When House Republicans made clear that any increase in the debt... More