Washington, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement in response to the Congressional Budget Office’s (CBO) release of a summary of its upcoming Budget and Economic Outlook. CBO projects deficits of $9.4 trillion over the next decade, the national debt to rise to $23.8 trillion by 2026, and for economic growth to continue to slow.
“Our nation has a choice to make. We can stay the course and watch CBO’s projections of slow growth and a rising mountain of debt become a reality – which will bring less opportunity, less freedom, and less security. Or, we can take positive actions and implement policies that will heal our economy, promote greater growth and job creation for more Americans, and put our nation’s fiscal house in order. Turning that page starts with a budget. This is why House Republicans are hard at work putting together a plan that presents bold, positive solutions to address our economic and fiscal challenges. Our reforms will get Washington out of the way so businesses can grow, more dreams can be realized, and more financial security can be had by the American people. We will ensure the brave men and women who protect our nation have the resources they need to defeat our enemies and secure our freedoms. At the same time, we will save and strengthen vital health, retirement and economic security programs that must be reformed if we are to keep those promises to future generations. We must make the right choices today to ensure a more prosperous America for generations to come. They’re counting on us.”