Click here for linkAugust 24, 2011
WASHINGTON – Earlier today, the Congressional Budget Office [CBO] updated its annual Budget and Economic Outlook. CBO projects the federal government's budget deficit to exceed $1 trillion for the third year in a row. Falling far short of the President's promises, the unemployment rate is expected to remain in excess of 8.5% for the next two years.
In response to CBO's latest warnings, House Budget Committee Chairman Paul Ryan issued the following statement:
“The Congressional Budget Office has again warned policymakers of the urgent need to get Washington's fiscal house in order. This reports confirms again that years of reckless overspending have not produced the economic growth or the jobs that the President promised and that American families need.
Total Members: