Congresswoman Susan W. Brooks

Representing the 5th District of Indiana
Twitter icon
Facebook icon
YouTube icon
Instagram icon

Brooks: “CBO Report Confirms that Our Current Path is Unsustainable”

Mar 30, 2017
News Releases

Washington, D.C. – The Congressional Budget Office (CBO) released its 2017 Long-Term Budget Outlook today and Rep. Susan Brooks released the following statement in response to the CBO’s findings:

“Our national debt is quickly approaching $20 trillion. It is not right or fair to leave this growing burden for our children, and today’s CBO report confirms that our current path is unsustainable. Our national debt has very real consequences for Hoosiers and their families: higher costs of living, slow wage growth and smaller paychecks just to name a few. We must consider further reforms to existing programs that ensure the future of Medicare, Medicaid and Social Security, and inject some discipline into our spending practices as a country.”

Key findings from the CBO report include:

  • “If current laws remain generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years – reaching the highest level of debt relative to GDP ever experienced in this country.”
  • “In CBO’s projections, deficits rise over the next three decades—from 2.9 percent of GDP in 2017 to 9.8 percent in 2047—because spending growth is projected to outpace growth in revenues.”
  • “Spending as a share of GDP increases for Social Security, the major health care programs (primarily Medicare), and interest on the government’s debt.”