WASHINGTON, D.C. —
Senator John Thune today issued the following remarks regarding the nonpartisan Congressional Budget Office's (CBO) announcement that President Obama's proposed budget for Fiscal Year 2012 will add $9.5 trillion to the nation's publicly held debt over the next 10 years, instead of $7.2 trillion originally predicted by the White House:
"The president continues to talk about fiscal responsibility and the need for government to live within its means, yet his actions show otherwise. The Congressional Budget Office has confirmed that the Administration's spending plan will only continue the failed fiscal policies of yesterday and further saddle future generations with unprecedented levels of debt. The president's budget is a failure of leadership."
In its analysis, CBO also predicted that our country's annual deficit would be no less than $700 billion in each of the next 10 years.
"The president continues to talk about fiscal responsibility and the need for government to live within its means, yet his actions show otherwise. The Congressional Budget Office has confirmed that the Administration's spending plan will only continue the failed fiscal policies of yesterday and further saddle future generations with unprecedented levels of debt. The president's budget is a failure of leadership."
In its analysis, CBO also predicted that our country's annual deficit would be no less than $700 billion in each of the next 10 years.