WASHINGTON, D.C. – House Speaker John Boehner (R-OH) issued the following statement on the report released today by the Congressional Budget Office (CBO) forecasting a “deep recession” if the Democrats’ plan to drive the nation off the fiscal cliff goes into effect in January:
“This CBO report underscores why on August 1, I and other House GOP leaders urged the Senate to follow the House in passing legislation that would steer our nation clear of the fiscal cliff. Instead of threatening to drive us off the fiscal cliff and tank our economy in their quest for higher taxes, I would urge President Obama and congressional Democrats to work with us to stop the coming tax hike that threatens our economy and replace the looming defense cuts with common sense reforms.”
NOTE: Only Republicans have passed legislation to (1) stop the tax hike that Ernst & Young says could destroy more than 700,000 U.S. jobs; and (2) replace the sequester that would harm our national security with common-sense spending cuts and reforms. House GOP leaders sent a letter to Senate Majority Leader Harry Reid (D-NV) pledging to call the House back into session during August if the Senate followed the House and brought legislation to a vote stopping all of the coming tax hikes that threaten our economy and replacing the ‘sequester’ defense cuts that threaten our national security. Far from offering – or even considering – long-term solutions, Democrats rejected the request and continue to carry out a strategy to drive the nation off the fiscal cliff – a strategy that is already hurting the economy.