Edwards issues statement on CBO baseline

Congressman Chuck Edwards (NC-11) issued the following statement today after the non-partisan Congressional Budget Office (CBO) released their annual Budget and Economic Outlook report.

“The CBO released disturbing data yesterday that the futures of our children have been mortgaged by prior reckless spending. It is more evidence of how previous lawmakers’ failed economic policies have resulted in record inflation, soaring interest rates and unsustainable debt.

"The one-party rule the past two years has enabled reckless spending of Americans' hard-earned taxpayer dollars, and with the consumer price index predicted to increase by another 4 percent this year, American citizens are paying the price.

"President Biden is acting irresponsibly by refusing to negotiate spending limits as part of the upcoming debt ceiling vote. Republicans will pay our debts and protect the good faith and credit of the United States, but we will not give Biden another blank check without commonsense spending controls in place.

"With the federal government's debt projected to increase more than $21 trillion in the next 10 years, the time to reverse this trajectory and reduce the tax burden on our children is now."