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Following the release of the Congressional Budget Office’s budget projections showing higher deficits and lower economic growth, FreedomWorks Senior Economic Contributor Stephen Moore commented:
“Washington has an addiction to spending. The budget deficits taxpayers will see this year are only a drop in the bucket of what’s to come if Congress doesn’t begin to take the growing cost of entitlement programs – the drivers of budget deficits – seriously. We can’t afford to continue the status quo without severe economic consequences. If we do nothing, the weak economic growth the CBO projects will be looked back on as the ‘good old days.’"
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