Washington,
Jul 13, 2005 -
Congressman Gerlach welcomed the news today from the Office of Management and Budget [OMB] that the federal budget deficit had decreased by almost $100 billion from previous estimates. The revised figure of $333 billion was presented during the OMB’s mid-season review released on Wednesday.
“From the tax relief enacted in 2001 and 2003 to the numerous economic programs and incentives put in place by this Congress, we’ve made considerable progress toward righting an economy that was decimated by the September 11 terrorist attacks,” Rep. Gerlach said. “Through strong leadership and bold decision making, I am confident we will see our nation’s economy continue to improve in the month’s ahead.”
In addition to the great news about the deficit, the economy continues to add new jobs to the payroll every month. Almost 3.5 million jobs have been added to the economy in the last 14 quarters, marking 25 straight months of positive job growth.
“National unemployment is at its lowest levels in years, consumer confidence is high and faith in the tax cuts and economic decisions made in the last three years seems to be paying off,” Rep. Gerlach said. “Our nation is on the right track, for sure, but there is still work to be done.”
