John Stephen Calls Record Budget Deficit "Outrageous"

For Immediate Release                                      Greg MooreJuly 28, 2008                                   (603) 206-1223 x1013
John Stephen Calls Record Budget Deficit "Outrageous"Candidate Says Projected $482 Billion Hole An "Assault On Our Children's Future"
MANCHESTER, NH- 1st District Congressional candidate John Stephen called today's announcement by the Office of Management and Budget (OMB) that next year's record projected federal budget deficit would be $482 billion a wake up call for fiscal sanity.  He said that Congress needs to get to work to shrink the deficit by reducing the size of government and that Americans need to elect leaders who would commit to trim the deficit and move the country toward a balanced budget.
"Next year's record deficit budget is an outrageous assault on our children's future," said Stephen.  "Congress has already added $2 trillion to our national debt over the past six years, and now we are looking squarely at spending nearly half a trillion dollars in one year that we don't have.  We need leaders who can say no and get our fiscal house in order and stop the enormous amounts of wasteful spending in the budget.  This is just one more example of the need for change in Washington."
Stephen made clear that he does not believe that raising taxes is the solution to closing the deficit.  He stated that increasing the tax burden on individuals at a time of an economic slowdown is the wrong way to get the country moving again.  He said the answer to reduce spending and take the steps to rein in major spending increases in the future.
"The last thing our economy needs right now is a massive tax increase like Congress recently voted to start in 2010," added Stephen.  "That's a recipe to drive the economy off the rails, cost millions of Americans their jobs and set us back in our efforts to boost our growth.  Congress needs to roll up its sleeves and get the job done.  We did this when I was at Health and Human Services and we returned $143 million to the state taxpayers.  There is no reason why we can't do it at the federal level if we make the commitment and change the culture."