01.31.12

Sessions On Baseline: Spending To Increase Fifty-Three Percent, Debt By $11.4 Trillion

WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today regarding the release of the latest CBO Budget and Economic Outlook and the Committee’s estimation that our nation’s actual debt path would produce $5.7 trillion in debt above the CBO baseline:

“An honest analysis tells us that spending is set to increase by 53 percent over the next ten years, producing an estimated $11.4 trillion in new gross debt. This is dangerously unsustainable. On February 13th the president will face a crucial test, one that will define the character of his presidency: will he finally submit a budget that brings our stratospheric spending back down to earth? Or will he continue to grow the government and bring America tragically closer to ‘the most predictable economic crisis in its history.’?”

NOTE: To view a Budget Committee analysis about the Outlook, please click here.