House Budget Committee Ranking Member Steve Womack issued the following statement after the Committee conducted a hearing on the Budget and Economic Outlook, often referred to as the "baseline." Published yesterday by the Congressional Budget Office (CBO), this annual report provides CBO's budget and economic projections for the next 10 years.
"While the CBO's Budget and Economic Outlook highlights the daunting fiscal challenges of our nation, it also gives us a roadmap to face these problems head on. We should work together to confront our growing debt burden and ensure a sustainable rate of government spending. It is my hope that my colleagues on the other side of the aisle have a plan to reconcile their desire for astronomical spending increases with the need to address the ballooning national debt. If we don't act, the burden of our irresponsibility will be left for our children and grandchildren."