Fact Sheet On CBO Long-Term Outlook: Worsening Debt Imperils Economy
CBO now projects that debt held by the public would exceed 100 percent GDP by 2021 under current policies (the alternative fiscal scenario). This is a 10 percentage point increase in debt relative to CBO’s projections of only one year ago. What’s more, debt held by the public is only a fraction of total federal […]
Issue 1a&b: Sequesters: Now And Then
Sessions: President Fostering Uncertainty, Unpredictability In Economy
“Our nation’s total debt has now officially eclipsed the size of our entire economy… but the president continues his call for more failed government ‘investments.’ We need certainty and predictability, not more experiments in progressive economics.” WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today in response […]
Sessions Opposes Debt Limit Bill: ‘Answer is More Accountability, Not Less’
“The new normal in Washington has become panic-driven 11th hour votes in which Members are told to fall into line before pandemonium ensues. This is no way to run the Congress or to run the government… No select committee or secret meeting is going to force the Congress to look in the mirror or to […]
Sessions Reacts To Announcement Of Late-Hour Debt Limit Deal
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued a statement this evening following the announcement that a deal had been reached to raise the debt ceiling: “I am glad that this matter appears to be on its way to resolution prior to August 2nd. However, I have warned from the […]
Sessions Comments On Possibility Of Last-Minute Debt Deal
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today regarding the current status of debt negotiations as the Senate awaits a vote on Majority Leader Reid’s debt limit proposal: “One thing every American should know: the level of spending cuts currently being discussed is only a small […]
Sessions Remarks On Senate Democrats’ Rejection Of House Debt Limit Extension
“If the White House or the Democrat leadership in the Senate had taken the legally required budget process seriously at any point in the last year—if they had presented a single credible plan to cut spending—we wouldn’t be here right now in the 11th hour.” WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate […]
Budget Committee Republicans Warn Reid Against Attempting End-Run Around Budget Law In Debt Bill
“Had the Senate adopted a budget in a timely manner this year, as the House of Representatives did, we would not be at an impasse on the debt limit increase at the 11th hour…[your] provision would provide a further excuse for avoiding a budget and increase the likelihood the Congressional Budget Act will be violated […]
Sessions: Reid’s Accounting Hoax And Dem Leaders’ Budget Law Defiance Has Brought Us To 11th Hour
“If the year had begun with a serious budget proposal from the president, we wouldn’t be in this mess right now… Senate Democrats, meanwhile, have refused to pass a budget in 820 days or even present one this year… Democrats defied the law and sound policy all year long and now we are paying the […]
Sessions: Reid Bill Achieves Only One-Third Of Promised Cuts
“As feared, the Majority Leader’s bill does not achieve anything close to the promised savings. Given the late hour, rather than rush through poorly-vetted legislation to grant the president the largest debt ceiling increase in history, we should pursue a more reasonable approach: a short-term extension with real cuts during the immediate time period the […]