The OMB released its mid-session review, an annual update and revision of White House budget projections. This report marked the first time that the administration has acknowledged that deficits will surpass $1 trillion in the near term — a level that should be a wake-up call to all Americans.
Unless Congress can set aside partisanship and address our nation’s fiscal challenges, the growing national debt will “seriously jeopardize and undermine the American economy,” according to former Secretary of Defense Leon Panetta.
