Rep. Randy Hultgren (IL-14) today released the following statement after the nonpartisan Congressional Budget Office (CBO) forecasted that the federal budget deficit will exceed $1 trillion once again in 2012.
“A fourth consecutive trillion dollar tidal wave of red ink is unacceptable, and underscores the need for Congress to enact serious budgetary reforms,” said Hultgren. “I remain convinced that the key to breaking Washington’s addiction to spending is the Cut, Cap and Balance Act we passed last year.
The CBO’s Budget and Economic Outlook also forecast that the unemployment rate will rise in both 2012 and 2013.
“Americans need jobs, not more wasteful government spending. The House has passed 27 bipartisan bills that would encourage private-sector job creation; I hope these dismal predictions from the CBO will finally drive the Senate to take them up and pass them expeditiously.”