Saturday, February 8, 2014

Corker: CBO Report “Sobering.”


U.S. Senator Bob Corker, R-Tenn., released the following statement after the non-partisan Congressional Budget Office announced today that the U.S. will add over $9 trillion in new debt and nearly double Medicare and Social Security spending over the next ten years. The report also finds that the health care law will continue to negatively impact economic growth and result in 2.5 million fewer Americans working in the next decade.

“Today’s CBO report gives a sobering outlook on our economy.  It confirms what we’ve known all along: The health care law is having a tremendously negative impact on economic growth, while entitlement spending continues to drive our nation’s debt to historic levels. Reforming Medicare and Social Security so they are strong and solvent is the only way to put our country on a sound fiscal path that will allow for continued growth and prosperity,” said Corker.

Last year, Corker and U.S. Senator Lamar Alexander, R-Tenn., introduced the Fiscal Sustainability Act, S. 11, to reduce the growth of entitlement spending (Medicare, Medicaid and Social Security) by nearly $1 trillion in the next decade in order to improve the programs’ solvency. The bill incorporates many of the recommendations made by President Obama’s Debt Commission (Simpson-Bowles) as well as by former Republican Senator Pete Domenici and Alice Rivlin, budget director for former President Clinton.

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1 comment:

  1. Bob - now that you are "sobered" DO SOMETHING ABOUT IT".
    Obama is running wild - file a federal suit and stop him.

    ReplyDelete