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WASHINGTON, D.C. - Today, the Congressional Budget Office (CBO) released its updated Budget and Economic Outlook warning about rising deficits, slow growth, and soon-to-be-insurmountable entitlement spending. The CBO projects real Fiscal Year 2017 deficits to be $555 billion. Currently, the cumulative national debt is over $20 trillion. According to projections, absent major policy changes, the national debt will increase to over $30 trillion in the next ten years.

Rep. Warren Davidson (R-OH) released the following statement:

“The CBO report is not a surprise, but it should shock you. Spending $555 billion more than we have each year effectively means that in order to cover the federal government’s primary mission of national defense, our only recourse is to borrow the money - an absurd proposition. I am optimistic about the opportunity for the substantive change we need with Mick Mulvaney heading the Office of Management and Budget.

"We need deeds, not just words. We cannot doom our children and this nation to a future of debt. It is not compassionate to bankrupt America.”