Congressional Lawmakers Point Fingers With Deficit Poised to Skyrocket

With the federal budget deficit projected to soar over the next decade, members of Congress are pointing fingers as to who’s most responsible for the nation’s financial troubles. “I try to be careful not to blame the president for everything, or my Democrat colleagues for everything, but I think their failed economic policies and their unbridled spending has put us in a situation where we have to bring these costs down,” House Budget Committee Chairman Jodey Arrington (R-Texas) said at a Feb. 14 hearing. The purpose of the hearing was to discuss the Congressional Budget Office’s (CBO) latest projections for the budget and economic outlook over the next 10 years. In its Feb. 7 report, the CBO estimated that the deficit would be $1.6 trillion this year, and that it would climb to $2.6 trillion by 2034....