Statement from the Campaign to Fix the Debt on New CBO Report

WASHINGTON, May 14, 2013 /PRNewswire-USNewswire/ -- The following is a statement from Maya MacGuineas, President of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt:

"Today's updated projections from the Congressional Budget Office are better than expected, especially in the short term. This is a good sign, as it shows an economic recovery that is beginning to truly take hold.

"However, the rosier-than-expected near-term projections do not change the fact that rising health care costs, an aging population, Social Security's looming insolvency, and ever-increasing interest payments will greatly expand the national debt as a share of the economy starting at the end of the current decade. Implementing a deficit-reduction plan now, instead of waiting until the deficit begins to grow again, will allow us to deal with these long-term challenges through smart reforms that are phased in gradually.

"The Campaign to Fix the Debt will continue working with elected leaders in both parties and on both ends of Pennsylvania Avenue to ensure they are taking seriously our long-term fiscal imbalance, and not simply rest on positive short term indicators. We need to keep making steady improvements to keep the good news coming."

For more information about the Campaign to Fix the Debt, please visit www.fixthedebt.org.

SOURCE Campaign to Fix the Debt

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