Press Release of Senator Heller
Heller: We Can Avoid This Debt Crisis
Wednesday, June 22, 2011
(Washington, DC) – Today U.S. Senator Dean Heller (R-NV) made the following statement on Congressional Budget Office’s 2011 Long-Term Budget Outlook.
“The latest budget projections prove that both this Administration and Congress must address federal spending. As Nevada and our nation struggle with high unemployment, we must do everything we can to restore confidence in our economy. There is no doubt this debt crisis can be avoided, but it is critical we act soon,” said Heller.
According to the CBO the federal government has been recording budget deficits that are the largest as a share of the economy since 1945. Consequently, the amount of federal debt held by the public has surged. At the end of 2008, that debt equaled 40 percent of the nation's annual economic output.
The Congressional Budget Office’s 2011 Long-Term Budget Outlook can be found at http://www.cbo.gov/doc.cfm?index=12212.