NEWS

New CBO Deficit Projections Signal U.S. Economy in Even Worse Shape Than Previously Thought

03/20/2009

Americans United for Change: "Alarming New Deficit Projections Only Underscore the Urgent Need to Pass the Bold Initiatives on Healthcare, Education and Energy Laid Out in the President’s Budget - A Blueprint for Rebuilding and Renewing America"

Washington D.C. - Americans United for Change, which is helping lead a major national campaign to pass President Obama’s historic budget plan along with nearly 100 leading labor, environmental and progressive organizations, issued the following statement today in response to alarming new figures from the Congressional Budget Office that project a substantially higher federal deficit than previously estimated.

Tom McMahon, Acting Executive Director, Americans United for Change: "The sobering new deficit projections deliver a stark message that the economy is in even worse shape than was previously thought.  It also underscores the urgent need to pass the bold initiatives on healthcare, education, energy and the economy laid out the President’s budget.  If we don’t deal with the major underlying problems with the economy and make it possible for business to create jobs, our deficits will only continue to explode.  We simply cannot achieve sustainable economic growth without fixing our broken health care system, reducing our dependence on foreign oil, and investing in tomorrow’s educated workforce. Bottom line: the most effective way for Congress to begin to regain control of the federal deficit is to support the President’s budget plan that is blueprint for rebuilding and renewing America."

www.americansunitedforchange.org