WASHINGTON, DC — Congressman Jeb Hensarling (TX-05) the second ranking Republican on the House Budget Committee and a member of the National Commission on Fiscal Responsibility and Reform issued the following statement regarding OMB’s Mid-Session Review:

“In just two years the Obama Administration and the Democratically-controlled Congress have increased non-defense discretionary spending by 84 percent.  They have cancelled this year’s budget, removing the last speed bump on the road to national bankruptcy.”

“In June we had the third largest one-day increase of the national debt in our nation's history – larger than the entire deficit for fiscal year 2007. We also learned that in June we passed the $1 trillion deficit mark for this year, which will be our second year in a row, and the second time ever, to have $1 trillion + deficit, which may run to a $1.5 trillion deficit this year.”

“OMB’s Mid-Session review merely confirms that our nation’s fiscal future continues getting bleaker, instead of better.  It is further proof that we need to cut spending now and begin getting our fiscal house in order today, or else we are firmly on the road to becoming Greece, but without the Parthenon and the art.”

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