Senator Enzi: CBO Report Highlights Need for Congress to Confront Out of Control Spending

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U.S. Senator Mike Enzi (Courtesy photo)
U.S. Senator Mike Enzi (Courtesy photo)

During a Senate Budget Committee hearing Tuesday, U.S. Senator Mike Enzi of Wyoming, and Committee Chairman, talked about the findings of a new financial report that highlight the need for Congress to confront the issues of the nation’s out of control spending.

Enzi said that the Congressional Budget Office’s “Budget and Economic Outlook for fiscal years 2019 through 2029,” confirms that Congress needs to start putting solutions on the table to address the issue.

Enzi noted that in fiscal year 2018, the federal government collected more than $3.3 trillion in revenue, but spent more than $4.1 trillion, which means the government overspent by $779 billion. Beginning in 2022, the federal government is projected to begin running deficits of more than $1 trillion each year. Total overspending for the next ten years will reach more than $11.6 trillion under this forecast, which assumes no other changes to tax or spending laws currently on the books.

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