Spending Cuts and Debt
More on Spending Cuts and Debt
Today, the Congressional Budget Office released its annual update which projected that $7 trillion will be added to the federal debt over the next 10 years if the current spending policies stay in place. Congressman Kerry Bentivolio released the following statement:
The massive national debt we are accruing will leave our children with a weaker nation than the one we inherited from our parents.
In 2012, the Congressional Budget Office reported that the federal government ran a $1.1 trillion deficit — the fourth consecutive year the deficit topped a trillion dollars.
The persistence of these deficits will hinder our savings and future investments, inhibiting the American Dream for far too many.
For too long, Washington has battled over spending cuts and increased revenues.