More on Debts and Deficits
Representatives Maloney, Nadler & King Pledge Bipartisan Effort Against Sequestration of 9/11 Health & Victim Compensation Funds
New York, NY – Today, U.S. Representatives Carolyn B. Maloney (D-NY), Jerrold Nadler (D-NY) and Peter T. King (R-NY), the House sponsors of the James Zadroga 9/11 Health & Compensation Act, issued a statement pledging to fight against a cut in federal funds for the World Trade Center Health Program and the September 11th Victim Compensation Fund (VCF) that would be triggered by the automatic sequestration of federal expenditures should Congress fail to enact deficit-cutting measures by January 2, 2013.
New Analysis by Joint Economic and House Budget Committees: 83 Percent of Crushing Federal Debt Is a Product of Past Three GOP Presidents
Washington, D.C. – Senator Charles E. Schumer, Chairman of the Joint Economic Committee (JEC) and Rep. Carolyn B. Maloney, Vice Chair of the JEC, released a new JEC and House Budget Committee analysis of total national and public debt incurred under the past five administrations. The analysis highlights a proven track record of fiscal responsibility under Democratic administrations, and conversely a sharp increase in debt under Republican administrations.
Bush Administration Increasingly Relies on China and OPEC to Finance U.S. Debt, Report Shows
WASHINGTON, DC - The Bush Administration has allowed the United States to become increasingly dependent on foreign purchases of U.S. Treasury securities to finance the federal budget deficit, and future U.S. national income will be depressed by payments to foreign holders of U.S. debt, according to a new study by Democrats on the Joint Economic Committee (JEC) and the House Committee on Financial Services.
Rep. Maloney Outlines Dems’ New Direction on Economy
QUEENS, NY – On Wednesday, Rep. Carolyn B. Maloney (D-Manhattan, Queens), the Senior House Democrat on the Joint Economic Committee, delivered a major address on the economy at LaGuardia Community College. Maloney’s address was part of the House Democrats’ national effort to highlight their New Direction agenda to restore economic security for hard-working Americans. Before a crowd of LaGuardia students, professors and staff, Maloney outlined the Democrats’ plan to ensure economic security, opportunity and prosperity for all.
Trade Deficit Bigger Than Ever, Adding to List of Bush Economic Failures
WASHINGTON, DC – New statistics released by the federal government today show that the trade deficit hit $69.9 billion in August, topping the previous all-time high set one month earlier. Last year, the annual trade deficit was at a record high for the fifth consecutive year, and it is well on its way to topping that record again this year.
Happy Talk About $247.7 Billion Deficit is Laughable, Says JEC’s Senior House Dem
WASHINGTON, DC – Today, President Bush is touting a $247.7 billion budget deficit for the fiscal year ending on September 30. This marks the fifth straight year of budget deficits under the Bush administration – a drastic change from the four straight years of budget surpluses achieved under Clinton administration policies.
Rep. Maloney's Statement on the House Budget Resolution
WASHINGTON, DC - As the senior House Democrat on the Joint Economic Committee, Rep. Carolyn Maloney (NY-14) controlled one hour of floor debate for the Democrats.
Maloney Floor Statement on Budget Reconciliation (S. 1932)
This administration, in concert with this Congress under this leadership, has given us five years of record debt and deficits. It seems that with each new month comes a new dubious record – just last week we learned that the trade deficit for October hit another all-time high.
Rep. Maloney: Revised National Deficit Estimate Going From Enormous To Huge Is Not Progress Enough
NEW YORK, NY - Today, Congresswoman Carolyn Maloney (D-NY), the Senior House Democrat on the Joint Economic Committee, urged the Bush administration to properly address the national deficit crises, rather than overstating the significance of a short-term estimated reduction in the projected national deficit.
Record Trade Deficit: The “Wrong-Way Economy” Is Cause for Worry, Says JEC’s senior House Democrat
WASHINGTON, DC - The Commerce Department announced today that the U.S. trade deficit in February hit $61 billion - the all-time record high for a single month. The previous record had been set in November. The increase in the price of oil and the demand for foreign oil were main reasons behind the $2.6 billion increase in imports in February. Exports remained essentially flat, despite administration predictions that the weak dollar would spur an increase in purchasing of cheaper American goods.
