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March 12, 2008
Contact: OMB Communications, 202-395-7254

Deficit Figures Underscore Need to Restrain Spending

Washington, DC — OMB Director Jim Nussle issued the following statement regarding the deficit figures released today by the Department of the Treasury.

“Americans are not undertaxed.  We’re seeing record revenues coming into the Treasury.  Revenue is not the problem – spending is the problem.

“Congress needs to get spending under control, but the budget put forward by Congressional Democrats would lead to an explosion in spending.  That’s the wrong approach to deficit reduction and is why the President has pledged to veto bills that exceed his responsible spending levels.”