Bachmann Reacts to Astounding $1.65 Trillion Deficit
Today, Congresswoman Michele Bachmann (MN-06) reacted to the latest deficit projection for the current fiscal year:
“Last month the Congressional Budget Office (CBO) estimated the fiscal 2011 deficit would be a record-breaking $1.48 trillion. Sadly, we learned from today’s White House projection that the federal deficit will actually reach $1.65 trillion in the current fiscal year.
“It’s no secret that our nation is in an atrocious financial state. In response, House Republicans have been working towards saving taxpayers $100 billion for the remainder of this fiscal year. But the discrepancy between the CBO deficit prediction and the White House prediction is a whopping $170 Billion. Just as House Republicans take one step forward to address our serious spending problem we find ourselves two steps back.
“Today President Obama had a great opportunity to show fiscal leadership with the release of his budget. Instead, he continued with his familiar job-destroying tax-and-spend policies.”
“Last month the Congressional Budget Office (CBO) estimated the fiscal 2011 deficit would be a record-breaking $1.48 trillion. Sadly, we learned from today’s White House projection that the federal deficit will actually reach $1.65 trillion in the current fiscal year.
“It’s no secret that our nation is in an atrocious financial state. In response, House Republicans have been working towards saving taxpayers $100 billion for the remainder of this fiscal year. But the discrepancy between the CBO deficit prediction and the White House prediction is a whopping $170 Billion. Just as House Republicans take one step forward to address our serious spending problem we find ourselves two steps back.
“Today President Obama had a great opportunity to show fiscal leadership with the release of his budget. Instead, he continued with his familiar job-destroying tax-and-spend policies.”
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