Hoyer Statement on the Congressional Budget Office's Long-Term Outlook Report
“I continue to be deeply concerned about the legacy we are leaving to future generations through our unwillingness to tackle growing budget deficits and mounting debt. Today’s young people face a serious threat to their ability to control their own economic destiny. The Congressional Budget Office’s (CBO) long-term budget outlook released today paints an alarming picture of compounding interest payments, an aging population, and rising health costs.
“The report details how a lack of fiscal sustainability risks subjecting our children and grandchildren to significant financial crises, untethered inflation, and an erosion of confidence in the dollar. What it also makes clear is the extent to which President Trump and Republicans in Congress exacerbated these problems by directing trillions in tax cuts to the wealthiest Americans. Congress owes it to future generations to heed CBO’s warning to restore some fiscal sanity before it is too late.”
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