Senator David Perdue: CBO Confirms Looming Fiscal Crisis

WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) today released the following statement on the Congressional Budget Office’s (CBO) 2015 Long-Term Budget Outlook:

“The latest report from CBO confirms that we have a fiscal crisis on our hands. Time is running out for us to deal with our national debt and put the long-term economic solutions in place to ensure that our children and grandchildren will have the same opportunities that my generation had. They do not deserve to be burdened by outrageous debt just because Washington doesn’t have the urgency to address this looming fiscal catastrophe.  

“We already face $18 trillion dollars of debt and over $100 trillion in future unfunded liabilities, including Medicare and Social Security which are headed towards insolvency. That’s why we must work now to protect our current seniors and those who need help most in these safety net programs. As the CBO report highlights, the longer we wait to act the harder it will be to make real changes.

“This fiscal crisis was created by Washington dysfunction, and we cannot simply cut or tax our way out of it. We must take immediate steps to grow our economy and prioritize our federal spending by setting clear priorities. As a member of the Senate Budget Committee, I will continue to fight every day to get our fiscal house in order and our country back on track.”