CBO Warns of Debt Crisis, But Dems Want More “Stimulus” Spending & Job-Crushing Tax Hikes

Congressional Budget Office (CBO) Director Douglas Elmendorf told the House Budget Committee today that America faces a “daunting” fiscal future, marked by the threat of a debt explosion that has led to a crisis. While Republicans have passed a budget that would pay down our debt over time and spur private-sector job growth, Democrats haven’t passed a budget in more than two years. At the hearing, Elmendorf laid out the consequences of Democrats’ inaction:

• “By the end of this year … federal debt will reach roughly 70 percent of gross domestic product (GDP) –

  Article source: http://www.speaker.gov/Blog/?postid=248540

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