Larson Responds to CBO Deficit Projections

FOR IMMEDIATE RELEASE: January 26, 2010

CONTACT: Emily Barocas/202-225-7295

LARSON RESPONDS TO CBO DEFICIT PROJECTIONS

Washington, DC – Congressman John B. Larson (CT-01), Chairman of the House Democratic Caucus, released the following statement today in response to the deficit projections from the Congressional Budget Office.

"It doesn't take a new statistic or economic indicator to tell you that these are scary economic times.  Many Americans fear losing their jobs, their homes and their way of life.  That is why House Democrats are working to turn our economy around for the middle class.  We are working to lower the deficit and create an environment that fosters job growth to put our economy on sound footing for the future.

"In the 1990's Democrats created jobs and reduced the deficit at the same time, and we will do it again.  Unfortunately, President Bush and Congressional Republicans took the trillion dollar surplus and record job growth we created and turned it into a record deficit and the worst economy in a generation.  In fact, 90% of the projected deficit is due to the cost of the Bush economic collapse and Bush policies like his unpaid for tax cuts for the wealthy. The devastating fiscal hole he left us in was far worse than anyone could have imagined.  We are digging out and rebuilding our economy in a way that will benefit all Americans, not just the wealthy, and all sectors of our economy, not just big corporations."

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