Press Release ● Fiscal Responsibility
For Immediate Release: 
October 17, 2016
Contact Info: 

Mariel Saez 202-225-3130

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (D-MD) released the following statement on the year-end report for Fiscal Year 2016 by the Office of Management and Budget and the Treasury Department

"The report released on Friday by the Treasury Department demonstrates both the enormous progress made under President Obama to bring deficits down as well as the significant challenges that still remain to achieve fiscal sustainability. Congressional Republicans talk a big game about fiscal responsibility, but their budgets and policies tell a different story. Their unrealistic budgets rely on drastic changes to important programs like Medicare, yet only purport to balance by using magic asterisks backed by little or no specifics. In practice, Republicans' policies would balloon the deficit through even more unpaid-for tax breaks to those at the very top, expecting the middle class and the next generation of workers to pay for it. That's not the way to return to the budget surpluses like those we had under President Clinton and begin to pay down our debt. 

"The best way to achieve those goals is for Congress to promote economic certainty that grows our economy by making long-term investments in job creation and engaging in comprehensive tax reform that benefits the middle class and American competitiveness. I will continue to promote adherence to PAYGO rules that Democrats put in place when we were in the Majority, and I call on Republicans to work with Democrats to pursue more fiscally sustainable budgets so we can afford our investments in economic growth and opportunity."