Pelosi Statement on CBO’s Long-Term Budget Outlook
Contact: Ashley Etienne/Caroline Behringer, 202-226-7616
Washington, D.C. – Democratic Leader Nancy Pelosi released this statement after the Congressional Budget Office issued its long-term budget outlook:
“The CBO’s long-term budget shows America cannot afford a Republican tax plan that hands multi-billion dollar tax breaks to the richest on the backs of the middle class. There is room for bipartisan tax reform, but it must be fiscally-responsible and it must not come at the expense of hard-working Americans.
“Under President Obama’s leadership, our nation made vital progress in creating jobs, growing the economy and bringing down the deficit. Part of our progress was the achievement of the Affordable Care Act, which is reducing the deficit by more than $350 billion over 10 years and has held health care cost growth to the lowest rate on record. We must continue to build on that progress in reducing health costs, and tackling the soaring costs of prescription drugs would be a good place to start.
“We cannot continue to hollow out America’s investments in jobs, innovation and growth. Ransacking investments in education, clean energy and good-paying jobs is a false economy that will weaken our economy and widen the deficit down the road. Democrats will continue to push to create the good-paying jobs, higher wages and economic growth that are essential to meaningful deficit reduction in the long run.”
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