01.19.16

Daines: New Deficit Projections Affirm Need to Rein in Spending

WASHINGTON, D.C. — Senator Steve Daines today reaffirmed his commitment to reining in Washington’s out-of-control spending after the Congressional Budget Office (CBO) reported that the federal budget deficit is expected to increase by $105 billion in 2016 – the first increase in seven years.

“These projections reaffirm the dire consequences of Washington’s continued bloated spending. Make no mistake – this $105 billion increase in the federal deficit is direct result of the 2000-page trillion dollar spending bill that was cobbled together behind closed doors and forced through Congress last month,” Daines stated. “It’s past time for Washington to get serious about reining in our national debt. We cannot leverage the future of our country by continuing down this unsustainable path of reckless spending without securing necessary reforms that will balance the budget.” 

The CBO report highlights the outlook future of America’s fiscal future: 

  • Actual 2015 Deficit: $439 billion
  • Projected 2016 Deficit: $544 billion
  • 5-Year Deficit (2021): $3.57 trillion
  • 10-Year Deficit (2026): $9.378 trillion 

Daines has consistently prioritized improving the country’s fiscal health. In December, Daines voted against the 2000-page backroom trillion dollar spending deal that failed to secure necessary savings. Daines also voted against the debt limit deal that increased spending by $117 billion over two years and raised the federal debt limit through 2017.

The first bill Daines introduced in both the Senate and House is the Balanced Budget Accountability Act, which strengthens accountability in Washington by requiring members of Congress to pass budgets that balance within ten years, or see their pay terminated.

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