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    Committee For a Responsible Federal Budget
    The Committee for a Responsible Federal Budget released a statement urging Congress not to permit the appropriations process to turn into an unrestrained spending spree. The statement noted that without a budget resolution, members of Congress may be tempted to add unnecessary spending items. It warned that all spending, including that for emergencies, must be paid for. The country is facing large budget deficits and will soon face higher costs from retiring baby boomers. Congress recently passed additional tax cuts that will cost $146 billion over the next decade. The committee called on Congress to acknowledge these fiscal realities rather than overspend before determining how to pay the bills.

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    Approp Oct 2004

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    Committee For a Responsible Federal Budget
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    The Committee for a Responsible Federal Budget released a statement urging Congress not to permit the appropriations process to turn into an unrestrained spending spree. The statement noted that without a budget resolution, members of Congress may be tempted to add unnecessary spending items. It warned that all spending, including that for emergencies, must be paid for. The country is facing large budget deficits and will soon face higher costs from retiring baby boomers. Congress recently passed additional tax cuts that will cost $146 billion over the next decade. The committee called on Congress to acknowledge these fiscal realities rather than overspend before determining how to pay the bills.

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    The Committee for a Responsible Federal Budget released a statement urging Congress not to permit the appropriations process to turn into an unrestrained spending spree. The statement noted that without a budget resolution, members of Congress may be tempted to add unnecessary spending items. It warned that all spending, including that for emergencies, must be paid for. The country is facing large budget deficits and will soon face higher costs from retiring baby boomers. Congress recently passed additional tax cuts that will cost $146 billion over the next decade. The committee called on Congress to acknowledge these fiscal realities rather than overspend before determining how to pay the bills.

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    Approp Oct 2004

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    Committee For a Responsible Federal Budget
    The Committee for a Responsible Federal Budget released a statement urging Congress not to permit the appropriations process to turn into an unrestrained spending spree. The statement noted that without a budget resolution, members of Congress may be tempted to add unnecessary spending items. It warned that all spending, including that for emergencies, must be paid for. The country is facing large budget deficits and will soon face higher costs from retiring baby boomers. Congress recently passed additional tax cuts that will cost $146 billion over the next decade. The committee called on Congress to acknowledge these fiscal realities rather than overspend before determining how to pay the bills.

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    PRESS RELEASE

    COMMITTEE FOR A RESPONSIBLE


    FEDERAL BUDGET
    FOR IMMEDIATE RELEASE Contact: Diane Paulitz 202.986.6599
    October 5, 2004 CRFB@newamerica.net

    NO BUDGET, NO EXCUSE FOR A SPENDING SPREE


    WASHINGTON, DC – Maya MacGuineas, Executive Director of the Committee for a
    Responsible Federal Budget, released the following statement today:

    “Without a budget resolution in place, it is clear that the temptation for many in Congress is to
    tuck additional spending items into the appropriations bills as they try to finish up business and
    head home. Many of these items are relatively small, many of them may be worthwhile – but the
    costs are no less real. Even spending on “emergencies” has to be paid for. Both the House and
    the Senate should comply with the budgets they have passed and not permit the appropriations
    process to turn into a free-wheeling, spending spree.

    “The country is facing large budget deficits. The first baby boomers will start to retire during the
    next president’s watch. Congress just passed additional tax cuts that will cost $146 billion over
    the next decade. It is time to own up to these fiscal realities, not squeeze every last possible
    dollar out of the budget before we finally determine how we are going to pay the bills.

    “The fact that we are about to bump up against the national debt limit – again – should serve as a
    reminder that what gets spent has to be paid for. Either we pay for it today, or we pay for it
    tomorrow. But borrowing doesn’t make those costs go away.”

    The Committee for a Responsible Federal Budget is a bipartisan organization committed to educating the
    public about issues that have significant fiscal policy impact. The Co-Chairs of the Committee are Bill
    Frenzel and Leon Panetta. The Committee is located at the New America Foundation. For more
    information, go to www.CRFB.org.

    --30--

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