Pelosi: CBO Deficit Numbers Are Latest Evidence of Republican Failure to Control Spending

Pelosi: CBO Deficit Numbers Are Latest Evidence of Republican Failure to Control Spending

House Democratic Leader Nancy Pelosi released the following statement today on the latest deficit numbers released by the CBO today:

"Today's deficit numbers from the Congressional Budget Office are just the latest evidence of the Republican failure to control spending and burden our future generations with mountains of debt.

"President Bush is trying to use Social Security surpluses to hide his out-of-control deficit spending. The facts are in the details: if Social Security surpluses were not used to finance government spending, the baseline deficit in 2006 would be $437 billion, not $260 billion, and deficits would total $4.2 trillion over the next 10 years. If the Bush Administration policies to extend expiring tax cuts were included in the baseline projections, deficits outside of Social Security would total $6.4 trillion or an average of more than $600 billion per year.

"Instead of governing by the rules that every family must live by - pay-as-you-go spending - President Bush and his Rubber Stamp Republicans are mortgaging our nation's future and piling debt on to our children. Democrats would take our nation in a new direction by restoring fiscal integrity and discipline."

http://democraticleader.house.gov/press/releases.cfm?pressReleaseID=1744