News Release
Spratt Statement on Final FY09 Deficit Figures
FOR IMMEDIATE RELEASE
October 16, 2009
WASHINGTON, D.C. - House Budget Committee Chairman John Spratt issued the following statement on the final FY 2009 deficit figures released today by the Treasury Department.
“Today’s figures are a result of the policies of the Bush Administration, along with the cost of actions needed to address the recession and prevent even deeper economic problems. The deficit numbers released today reflect the sharp drop in revenues caused by the recession, plus the cost of the last Administration’s TARP policy and the cost of current economic recovery efforts.
“It would be harmful to try to balance the budget at a time when the economy has not fully recovered and so many Americans are still struggling. At the same time, today’s figures are the latest reminder that long-term economic stability will require that the budget be put on a sustainable path. So as the economy recovers, we will need to turn our focus back to deficit reduction.”
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