Senator David Perdue Gives Statement On CBO’s 2016 Long-Term Budget Outlook

Tuesday, July 12, 2016

Senator David Perdue, a member of the Senate Budget Committee, released the following statement after the Congressional Budget Office (CBO) released its 2016 Long-Term Budget Outlook, which projects the United States would face steadily increasing federal debt over the next 30 years—reaching the highest level of debt relative to GDP ever experienced in this country:

“The CBO is again exposing how Washington’s financial irresponsibility threatens our ability to fund the priorities of our government. Discretionary spending has been scaled back since 2009 and this CBO outlook reminds us that the runaway costs of our mandatory expenses will add trillions to the debt in the next 10 years. We’re past the tipping point in this debt crisis and we simply have to face up to the difficult choices we have to make today to arrest the spiraling debt.

“Right now, our country cannot afford everything it is doing. With over $19 trillion in debt and over $100 trillion in future unfunded liabilities, each American family is responsible for nearly $1 million of this debt. Even more concerning, if interest rates were to rise to the 50-year average of 5.5 percent, the interest on the debt would amount to over $1 trillion annually, more than twice what is currently spent on national defense.

“The budget process is broken and has only worked four times in more than forty years. Fixing the budget process alone will not solve the debt crisis, but the debt crisis cannot be solved until we fix the budget process. In addition, we have to face up to the reality that the Social Security and Medicare trust funds go to zero in less than 15 years. We have to save Social Security and Medicare. Growing the economy and arresting the spiraling nature of our health care costs are also necessary to save these programs and rein in this out of control debt.”


Chattanooga Plaintiff’s Attorneys Hubert Hamilton And Patrick Cruise Recognized As Mid-South Super Lawyers

Chattanooga Chamber Calendar Of Events Nov. 12-15

TVA Announces 2018 Carbon Reduction Award Winners


The Hamilton Firm LLC, a regional plaintiff’s personal injury law firm, headquartered in Chattanooga, at 2401 Broad Street, announced that two of its four trial lawyers have again been recognized ... (click for more)

Nov. 12, Ribbon Cutting for My Salon Suite - Hamilton Place 6 to 6:30 p.m. My Salon Suite - Hamilton Place: 7053 Lee Hwy., Ste. 301 Join the Chattanooga Chamber for a ribbon cutting ... (click for more)

The Tennessee Valley Authority released on Friday the names of the businesses who earned this year’s TVA Carbon Reduction Award for businesses served by local power companies. The new award ... (click for more)


Business

Chattanooga Plaintiff’s Attorneys Hubert Hamilton And Patrick Cruise Recognized As Mid-South Super Lawyers

The Hamilton Firm LLC, a regional plaintiff’s personal injury law firm, headquartered in Chattanooga, at 2401 Broad Street, announced that two of its four trial lawyers have again been recognized by Thomson Reuters Super Lawyers Magazine as among the Top Rated Plaintiffs’ Personal Injury Attorneys in Tennessee for 2018. Both Hubert Hamilton and Patrick Cruise have again achieved ... (click for more)

Chattanooga Chamber Calendar Of Events Nov. 12-15

Nov. 12, Ribbon Cutting for My Salon Suite - Hamilton Place 6 to 6:30 p.m. My Salon Suite - Hamilton Place: 7053 Lee Hwy., Ste. 301 Join the Chattanooga Chamber for a ribbon cutting event for My Salon Suite – Hamilton Place. Nov. 13, Hixson Community Coffee 8 to 9 a.m. Synovus Bank: 5613 HWY 153 Join the Hixson Council for their monthly coffee and networking. ... (click for more)

Breaking News

Planning Commission Recommends Denial For Permit For Ooltewah Sewage Treatment Plant

The Planning Commission on Monday afternoon recommended denial for a sewage treatment plant for Ooltewah on Mahan Gap Road. The final decision will be by the County Commission, which will hold a zoning committee meeting on Dec. 12 and a regular session on Dec. 19. Opponents to the project overflowed the meeting room at the County Courthouse and dozens who could not get inside ... (click for more)

Man Shot And Killed Monday Morning When Police Officers Respond To Shots Fired Call

Chattanooga police officers responded to a shots fired call at 6:13 a.m. on Monday in the 5000 block of 15th Avenue. A reporting party said the suspect was walking in the street, displaying a firearm, and firing shots at houses. Upon arrival, officers encountered an armed male suspect matching the description given by the reporting party. Officers engaged with the suspect, ... (click for more)

Opinion

Thanks To First Volunteer Bank

Thank you to the Highway 58 branch of First Volunteer Bank. On behalf of the Ernie Pyle Chapter of the Military Order of the Purple Heart, I would like to express our appreciation to the manager and staff of the HIghway 58 Branch of First Volunteer Bank for putting on a Veterans Day lunch in the lobby of your bank on Friday, Nov. 9. It was a cold and rainy day and Army, Marines ... (click for more)

Roy Exum: ‘Pete, Never Forget’

Sometimes I don’t tend to myself quite like I should. Think of it as a bad habit. So last week I took some time away from the computer, away from my morning readings and newspapers and TV, so I could tap my reset button. Things happen when you get old and some of them aren’t good. Thank goodness there is hardly anything today that has no solution if you keep trying and stay in the ... (click for more)