Budget Deal Fails To Be Fiscally Responsible
(Arlington, VA) – Today The LIBRE Initiative released a statement ahead of the expected vote on a Budget deal that would raise spending levels by $320 billion and extend the debt limit until at least 2021.
The LIBRE Initiative President Daniel Garza issued the following statement:
“Latinos, along with all Americans, expect our elected officials in Washington to be accountable by decreasing wasteful spending and reducing the growth of our national debt. Unfortunately, this budget does the opposite by making a bad situation worst. Unless lawmakers are willing to get serious about spending, the debt will continue to grow, putting the future of our economy in jeopardy. Lawmakers should work together to find a new agreement that is fiscally responsible.”
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. 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.