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Speeches & Statements
Statement from Chairman Diane Black on Committee Passage of the Fiscal Year 2018 Budget Resolution
“I am proud of the work done by the members of the committee. We’ve spent months reviewing all aspects of the federal government and have put together a plan that will balance the budget, promote economic growth, strengthen our national defense..."
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Building a Better America: The Fiscal Year 2018 House Budget Resolution
The budget resolution scheduled for markup this week begins to tackle the unsustainable mandatory spending and rising deficits and debt that threaten future generations’ opportunity…
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Chairman Black Opening Statement for FY 2018 Budget Markup
Our budget is called Building a Better America, because we take real, tangible steps to balance the budget, build a stronger military, and support an economy that creates opportunity for all Americans.
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House Budget Committee Introduces FY18 Budget Resolution: “Building a Better America”
Today, the House Budget Committee released its Fiscal Year 2018 budget resolution: “Building a Better America – A Plan for Fiscal Responsibility.” It is a plan to balance the budget, promote job creation, strengthen our national security, improve health care for all Americans, return power back to the states, and bring accountability to the federal government.
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Highlighting Waste, Fraud and Abuse: the FCC's Lifeline Program
Not surprisingly, when GAO sampled 3.5 million Lifeline subscribers, it could not verify the eligibility of more than a third of them – some 1.2 million households. In an undercover test using fictitious names and documentation, GAO gained approval for Lifeline service from 12 of 19 providers contacted.
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ICYMI: “A Penny on the Dollar”
“I’m insisting that we do it in mandatory spending because it is the greatest driver of our debt,” Chairman Black said.
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Chairman Black: New CBO Report Shows It's Time to Address Mandatory Spending
Today, House Budget Committee Chairman Diane Black issued the following statement after the CBO increased its projections of debt and deficits over the next ten…
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The Hazardous Trend of Uncontrolled Spending
Direct spending excluding interest totaled $2.4 trillion in fiscal year 2016 and will nearly double to $4.3 trillion by 2027, according to the Congressional Budget Office [CBO]. This is the principal source of the Nation’s growing national debt, which now stands at $19.9 trillion – greater than the size of the entire economy.
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The Unsustainable Long-Term Budget Outlook
If current laws generally remain unchanged, Federal debt held by the public – which stands at 77 percent of gross domestic product [GDP] today – will surge to 113 percent of GDP in the next 20 years, according to the Congressional Budget Office [CBO]. By 2047, that debt is projected to reach 150 percent of GDP. This would be nearly four times the average level of the past 50 years (39 percent), and well above the country’s highest debt level seen shortly after World War II.
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