Arrington on CBO's Sobering Default EstimateToday, House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement regarding the Congressional Budget Office's (CBO) debt ceiling timeline.
“After two years of reckless spending and failed economic policies that led to 40-year high inflation, soaring interest rates, and an anemic and shrinking economy, it’s no wonder tax revenue is down and the default date may be moved up.
"House Republicans are the only ones who have put forth a detailed plan to fix the spending problem and protect the full faith and credit of the United States. Biden and the Democrats need to stop making up excuses to continue their spending spree and act responsibly by including fiscal reforms in a debt ceiling bill.
"The Democrat narrative is misleading and preys on the fears of veterans and vulnerable people while conveniently failing to address the billions of wasteful Washington spending.”