“This CBO report is yet another warning to our leaders in Washington that we must address the looming fiscal cliff, which is just 53 days away.

The fiscal cliff represents a moment of opportunity for policymakers, and could mark a positive turning point for the country’s fiscal future. Instead of allowing our economy to go over the fiscal cliff, or once again kicking the can on the necessary action on our deficits, leaders should seize this opportunity to pass a comprehensive, bipartisan plan that stabilizes the long-term debt and builds a stronger economic future.”