In its latest update of The Long-Term Budget Outlook, the CBO provides an overview of the looming debt crisis and projects that by the end of this year, the federal debt will reach roughly 70 percent of gross domestic product (GDP)—the highest percentage since shortly after World War II.

“Years of borrowed spending and bigger government have brought our country to the most predictable economic crisis in American history and Shelley Berkley and Byron Georgiou’s solution is increase our credit card limit by another $2 trillion,” National Republican Senatorial Committee spokesman Jahan Wilcox said today.  “It’s a remarkable failure of leadership and it’s time for Shelley Berkley along with her liberal mentor Harry Reid to be honest about the very serious challenges facing our country.”

For your background, CBO’s report includes the following key findings:

• The CBO projects that government spending as a share of the economy will increase by nearly 70 percent between now and 2035, up from its historical average of roughly 20 percent. Taxes are projected to rise to the historical average in the years ahead, yet the unprecedented growth in government spending is projected to rise much faster, driving an unsustainable explosion in debt.

• The crushing burden of debt is driven primarily by the nation’s largest entitlement programs – Social Security, Medicare, and Medicaid – along with the compounding growth in interest payments on the debt.

• Our unsustainable policies are increasing the likelihood of a devastating crisis: The CBO report states that “Growing debt also would increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government’s ability to manage its budget and the government would thereby lose its ability to borrow at affordable rates.”

• According to the CBO report, the federal government’s interest payments alone are projected to consume 9 percent of our entire economy by 2035, up from about 1 percent today.

• The CBO report affirms that the massive health-care overhaul fails to address the explosion in health care costs. Mandatory federal spending on health care will increase by 86 percent from 5.6 percent of GDP today to 10.4 percent of GDP over the next 24 years.

Source: (“CBO’s 2011 Long-Term Budget Outlook,” Congressional Budget Office, 6/22/11)

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Unfortunately, this year alone, Shelley Berkley (D-Las Vegas) has already voted three times against pro-domestic energy and pro-jobs legislation.  The National Republican Senatorial Committee (NRSC) asked today whether Berkley intends to continue her “do-nothing” energy platform and when Byron Georgiou will finally step forward to tell Nevadans where he stands on America’s energy crisis.

“When it comes to addressing high gas prices, Shelley Berkley has consistently stood in the way of common-sense initiatives, while her opponent Bryon Georgiou has decided to stonewall Nevadans by refusing to reveal his position on new domestic energy production,” said National Republican Senatorial Committee (NRSC) spokesman Jahan Wilcox.  “If either Berkley or Georgiou wants to represent the entire state of Nevada then they can begin by supporting this bill that will create jobs and help lower the price of gasoline for Nevada and our country.”

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As even more Washington Democrats join Republican calls for disgraced U.S. Rep. Anthony Weiner’s (D-NY) resignation, liberal U.S. Rep. Shelley Berkley (D-NV) and Byron Georgiou have remained silent regarding Weiner’s lewd online behavior.

So far, according to Politico, a growing list of top Democrats – including former DNC Chairmen Tim Kaine and Ed Rendell, U.S. Senators Pat Leahy (D-VT) and Mark Pryor (D-AR), and U.S. Reps. Allyson Schwartz (D-PA), Mike Ross (D-AR), Larry Kissell (D-NC), Earl Blumenauer (D-OR), Niki Tsongas (D-MA), Michael Michaud (D-ME) and Joe Donnelly (D-IN) – are all calling for Weiner to resign.

“Do Congresswoman Shelley Berkley and Byron Georgiou agree with their fellow Democrats that it’s time for Anthony Weiner to go, or do they continue to stand by embattled Congressman Weiner despite this lewd behavior?” asked National Republican Senatorial Committee (NRSC) spokesman Jahan Wilcox.

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