FLEMINGTON, NJ -- U.S. Congressman Leonard Lance (NJ-07) today issued the following statement regarding the latest federal deficit estimates released by the nonpartisan Congressional Budget Office (CBO) and president’s Office of Management & Budget (OMB):

“Figures released by the White House budget office reveal a fiscal house in total disarray. The federal government faces an exploding $9 trillion deficit over the next decade. Most concerning, today’s figures show the public debt doubling by 2019 and reaching three-quarters the size of the entire national economy. And unemployment could go higher than 10 percent nationally.

“Yet, the president and the Democratic-led Congress continue to push for the passage of a massively expensive health care bill that will add more spending and more debt — hardly the right medicine to help our ailing economy.”

Lance currently serves as a member of the U.S. House Financial Services Committee, and is a leading voice in Congress for reducing our national debt.

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