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July 11, 2024

Op-Ed, Washington Examiner: The Debt and Interest Albatross

WASHINGTON, D.C. - House Budget Committee Member Blake Moore (R-UT) is Sounding the Alarm on the fastest-growing part of our national debt: interest payments. Congressman Moore outlined hidden interest in an article in the Washington Examiner, highlighting how it is now the largest contributor to our national debt- exceeding infrastructure, education, healthcare, and national defense spending. Congressman Moore in the Washington Examiner: Via the Washington Examiner: “As we celebrated … Continue Reading

July 10, 2024

Congressional Budget Office Releases Monthly Budget Review: Federal Deficit Reaches $1.3 Trillion for First Nine Months

WASHINGTON, D.C. - Yesterday, the Congressional Budget Office (CBO) released the monthly budget review for June 2024. According to the report, overall spending, after adjusting for timing shifts, is up 7 percent at $320 billion and revenues are up 10 percent at $342 billion, when compared to the same point last year. Interest spending has increased by 40 percent at $201 billion compared to the same point last year. Some key number breakdowns: Topline Takeaways from CBO's Monthly Budget … Continue Reading

June 28, 2024

FACT CHECK: The Truth About Biden’s Failed Presidency

WASHINGTON, D.C. - Last night, President Biden and President Trump participated in the first presidential debate of the year. President Biden tried to paint a picture that his presidency has been good for the American people, but that couldn’t be further from the truth. The House Budget Committee is here with the facts on last night’s claims by President Biden. Read what he got wrong below and follow along for the truth. Economy: President Biden misled the American people about the pain … Continue Reading

June 27, 2024

FACT CHECK ALERT: Debunking CRFB’s Analysis of Trump and Biden Impacts on the National Debt

WASHINGTON, D.C. - This week, the Committee for a Responsible Federal Budget (CRFB) released a report entitled, “Trump and Biden: The National Debt.” The CRFB’s report attempts to compare the fiscal impact of the policies of the current Administration with the policies of the previous Administration, yet fails to accurately capture the total cost incurred by both presidencies. The CRFB’s report: Ignores the track record of increasing revenues following passage of TCJA; Omits the full … Continue Reading

June 25, 2024

Chairman Arrington Joins Squawk Box to Sound the Alarm on the Out of Control Debt

     WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined “Squawk Box” on CNBC to discuss the recent update to the Congressional Budget Office (CBO) baseline projections for fiscal years (FY) 2024-2034. This is an update to its February baseline. CBO now projects that deficit spending for FY24 will reach a staggering $1.9 trillion, an estimate that is $400 billion higher than CBO predicted just four months earlier. Additionally, interest spending has … Continue Reading

May 29, 2024

Interest Costs Skyrocket by 152 Percent Under President Biden

WASHINGTON, D.C. - Under President Biden, the cost to service our national debt has skyrocketed. Since January 2021, spending on interest has grown by an astonishing 152 percent. For context, during the same period, spending growth for key areas: 33 percent growth in spending for Social Security 21 percent growth in spending for Medicaid 15 percent growth in spending for Defense   14 percent growth in spending for Medicare Interest is the fastest growing obligation in the federal … Continue Reading

May 15, 2024

Chairman Arrington Introduces Legislation to Provide Taxpayers Transparency on the Public Debt

WASHINGTON, D.C. - House Budget Committee Chairman Jodey Arrington (R-TX) introduced legislation that would inform and educate the American people on the nation’s fiscal trajectory and what it means for them and their families. H.R. 8372, the Debt Per Taxpayer Information Act, would provide each American filing a tax return with information on their W-2 about federal revenues, outlays, and deficits in the latest available tax year, the total gross debt, and the estimated debt per taxpayer. It … Continue Reading

May 14, 2024

CBO Report on Inflation Covers Up the Harmful Effect of Bidenomics on the Economy

WASHINGTON, D.C. - Today the Congressional Budget Office (CBO), released a report entitled, “An Update About How Inflation Has Affected Households at Different Income Levels Since 2019.” This was an update to a report from September 2022.   The updated report, requested by Senate Budget Committee Chairman Sheldon Whitehouse (D-RI), shows the cumulative inflation effects on households since 2019. This five-year cumulative look back, with no year-by-year breakdown, conflates the positive … Continue Reading

May 07, 2024

Fox Business: Chairman Arrington Discusses Looming Insolvency of Social Security, Medicare, and the Upcoming Hearing on the Cost of the Border Crisis

WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined Fox Business’s Cavuto: Coast to Coast with host Neil Cavuto to discuss the looming insolvency of our entitlement programs such as Social Security and Medicare, and to highlight the Committee’s upcoming hearing entitled “The Cost of the Border Crisis.” Click HERE to watch Chairman Arrington on Cavuto: Coast to Coast Highlights from the Chairman’s interview below:  Chairman Arrington on the Border … Continue Reading

May 06, 2024

Social Security and Medicare Continue on Path to Insolvency, Trustees Confirm

      WASHINGTON, D.C. - Today, the Social Security and Medicare Trustees annual reports were submitted to Congress. The reports highlight the alarming financial predicament for the future of the Social Security and Medicare programs that millions of seniors depend on. Chairman Arrington's Statement on the Social Security and Medicare Trustees Reports: In response to the reports, House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement:       “We have the … Continue Reading

May 01, 2024

House Budget Republicans Seek to Streamline U.S. Defense Spending and Budgeting Process with DoD Watchdog

WASHINGTON, D.C. - Today, House Budget Committee Members, led by House Budget Committee Oversight Task Force Chair Jack Bergman (R-MI), convened a roundtable discussion focused on streamlining the budgeting process for the Department of Defense (DoD) with the Commission on Planning, Programming, Budgeting, and Execution (PPBE) Reform.     Congress established the PPBE Commission on a bipartisan basis—via section 1004 of the “Fiscal Year 2022 National Defense Authorization Act” (NDAA)—to … Continue Reading

April 26, 2024

President Biden’s Executive Actions Have Cost Taxpayers Over $2 Trillion

WASHINGTON, D.C. - Since taking office, President Biden has proposed and implemented executive actions that have cost taxpayers over $2 trillion. This spending was put forth by the Biden Administration without Congressional approval, underscoring the need for increased oversight and transparency throughout the Executive Branch. The House Budget Committee reviewed the President’s major executive actions to determine their status, costs, and implications. They range from relatively specific to … Continue Reading

April 26, 2024

Chairman Arrington, Health Care Task Force Chair Burgess Request Investigation into Obamacare Program Driving Deficits

WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) and Budget Committee Health Care Task Force (HCTF) Chair Michael C. Burgess, M.D. (R-TX) sent a letter to Comptroller General Gene Dodaro of the U.S. Government Accountability Office (GAO) requesting an updated report on the cost of the Center for Medicare and Medicaid Innovation (CMMI) and its effect on the federal budget. The Relationship Between Federal Spending and CMMI: The Patient Protection and … Continue Reading

April 26, 2024

Bureau of Economic Analysis: PCE Inflation Rose to 2.7 Percent in March

WASHINGTON, D.C. - Today, the Bureau of Economic Analysis (BEA) reported that the Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose to 2.7 percent for the month of March. This is an increase from February’s 2.5 percent.  Chairman Arrington on PCE: House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement on the PCE rising 2.7 percent in March: “Today, the Bureau of Economic Analysis (BEA) reported that … Continue Reading

April 24, 2024

Chairman Arrington Responds to American Action Forum (AAF) Report: Biden’s Regulations Costing Nearly $1.4 Trillion

WASHINGTON, D.C. - Yesterday, the American Action Forum (AAF) released a report that shows since taking office, President Biden’s agency rulemakings have cost the federal taxpayer $1.37 trillion and counting. House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement on the cost of President Biden’s regulations: “President Biden is on track to impose more regulatory cost on our economy than any President in history, adding $1.4 trillion since coming to office. This … Continue Reading

April 19, 2024

Chairman Arrington Offers Amendment at the House Rules Committee to Fully Offset the Cost of National Security Supplemental and Restore Fiscal Responsibility

WASHINGTON, D.C. - Yesterday, House Budget Committee Chairman Jodey Arrington (R-TX) offered an amendment at the House Rules Committee hearing on H.R. 8034, 8035, 8036, and 8038 to the 21st Century Peace Through Strength Act. His amendment would have fully offset the cost of these bills, contributed at least $50 billion to deficit reduction, and helped restore fiscal responsibility. Ultimately, the amendment was not advanced by the Rules Committee for consideration on the House Floor due to … Continue Reading

April 12, 2024

Penn Wharton Sounds the Alarm on Biden’s Student Loan Bailout Scheme

WASHINGTON, D.C. - Today, the Penn Wharton Budget Model (PWBM) released an analysis of President Biden’s latest student loan cancellation scheme, which was unveiled earlier this week.   PWBM’s report reveals this plan is projected to cost taxpayers $84 billion and would disproportionately affect high-income earners. Roughly “750,000 households making over $312,000 in average household income” would be eligible for longer-term student debt cancellation.   Chairman Jodey Arrington (R-TX) … Continue Reading

April 10, 2024

Chairman Arrington Statement on the 3.5% Inflation Rate for March, the Highest Level in Six Months

         WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement after the Consumer Price Index (CPI) report for March showed that inflation increased by 3.5%, the highest level in six months.  “President Biden’s failed economic policies and congressional Democrats’ tax and spend agenda continue to devastate the American people. Inflation is at its highest level in six months, and Bidenflation isn’t going anywhere. Families’ buying … Continue Reading

March 19, 2024

Chairman Jodey Arrington Delivers Statement of Support During Floor Debate on H.R. 766

       WASHINGTON D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) spoke on the House Floor in favor of H.R. 766, the Dr. Michael C. Burgess Preventive Health Savings Act. The bill passed by a voice vote.  The historic accomplishment marks the first time in history that a bipartisan bill with sole Budget Committee jurisdiction has been brought to the Floor under a suspension of the House rules. Click HERE to watch Chairman Arrington’s Statement. Chairman Arrington’s … Continue Reading

March 15, 2024

Chairman Arrington Discusses Biden’s Four Years of Fiscal Failure on Fox News Radio

WASHINGTON, D.C. - This week, House Budget Committee Chairman Jodey Arrington (R- TX) joined the Guy Benson show with guest host Ross Kaminsky to discuss President Biden’s four years of fiscal failure, how Biden’s climate policies are hurting the economy, House Republicans’ “Reverse the Curse” budget, and more. Some highlights from the discussion are below. Click HERE to listen to Chairman Arrington on Fox News Radio. House Budget Chairman Arrington on Biden’s Four Years of Fiscal … Continue Reading

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