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AFP: Budget Deal is a Direct Path to the CBO?s Worst-Case Crisis

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Unread 07.23.19, 06:00 PM
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AFP: Budget Deal is a Direct Path to the CBO?s Worst-Case Crisis

07.23.19 07:13 AM

Grassroots group urges Congress to tackle biggest drivers of national debt Arlington, Va. – Americans for Prosperity expressed opposition Tuesday to a reported budget deal that would raise spending levels by $320 billion and extend the debt limit until at least 2021, adding about $2 trillion to the national debt over the next 10 years. According to the Congressional Budget Office (CBO), the U.S. is on a trajectory to see spending and debt explode, with public debt reaching 185% of GDP in 30 years. But even that’s a rosy scenario which assumes Congress sticks to the budget caps.**This deal would put*us squarely on target to see the worst-case scenario projected by the CBO of spending soaring to 33% of GDP and debt spiraling to 219% of GDP.*Congress should consider a plan that either sticks with the spending caps, or allows for restrained growth in discretionary spending, and*coupled with reforms to mandatory spending. A menu of options for such reforms can be found here*in AFP’s latest report on the spending and debt crisis. Americans for Prosperity President Tim Phillips issued the following statement: “This is another shameful example of Washington coming together to leverage a crisis— this time around the debt […]

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