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Senator Richard Burr: CBO’s long-term budget outlook
Story Date: 6/8/2012
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Source: U.S. Senator Richard Burr (N.C.), 6/7/12
On Tuesday, CBO released its annual Long-Term Budget Outlook that gives Americans an idea of what to expect if our federal government does not rein in its out of control spending. This year’s report underscored that the policies being put forth by the Administration are hurting, not helping, our economy and will leave our nation in a very dangerous place for future generations if we fail to make the tough choices now to put our economy back on the right track. Specifically, the report indicates that spending on health care will increase 93% over the next 25 years and will account for 10.4% of GDP in 2037, despite the fact that the President and Democrats in Congress promised that their health care law would drive down health care spending. This is yet another wake-up call by that we must put our nation’s health care programs on a sustainable course if we are going to avoid an even bigger crisis than we currently face.
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