Good morning, Chairman Murray, Ranking Member Sessions,
and members of the committee. Thank you for the chance to discuss
the effect of tax increases and spending cuts on economic growth. I
appreciate the opportunity to testify today.
Last week the Congressional Budget Office released a revision of its budget outlook for FY 2013. According to CBO, our short-term outlook seems to be improving, at least on a superficial level, with this year’s deficit now expected to be $642 billion. That is $200 billion lower than projected in February, which would make it the smallest deficit since 2008.
http://reason.com/archives/2013/05/23/the-effect-of-tax-increases-and-spending
Last week the Congressional Budget Office released a revision of its budget outlook for FY 2013. According to CBO, our short-term outlook seems to be improving, at least on a superficial level, with this year’s deficit now expected to be $642 billion. That is $200 billion lower than projected in February, which would make it the smallest deficit since 2008.
http://reason.com/archives/2013/05/23/the-effect-of-tax-increases-and-spending
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