Under questioning from Idaho Senator Mike Crapo, the head of the U.S. Congressional Budget Office (CBO) confirmed that our nation’s $18 trillion national debt remains a drag on the economy and job growth, and continued increased federal spending used as a short-term strategy to boost the economy will have serious negative long-term effects on the country’s economic future. Crapo, a senior member of the Senate Budget Committee, participated in a hearing to examine CBO’s annual Budget and Economic Outlook report where he questioned Director Elmendorf on the urgent need to begin paying down our massive national debt.
Video (2:21)
Crapo To CBO Director: Can We Continue To Spend Ourselves Into Prosperity On Borrowed Money? - YouTube
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