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Washington, D.C. – The director of the Congressional Budget Office testified before the Senate Budget Committee today on the agency’s Budget and Economic Outlook For Fiscal Years 2007-2016. Here is a statement from Sen. Mike Enzi, R-Wyo., a senior member of the committee.

“The Senate took an important step in limiting the growth of mandatory spending in December by passing the Deficit Reduction Act of 2005, which produced nearly $40 billion in savings over 5 years. The House passed the bill this week and the President is expected to sign the bill soon. However, I believe this was just a down payment. Congress needs to do more to contain mandatory spending. CBO is projecting a sharp increase in the amount of federal spending needed for Medicare, Medicaid and Social Security,” Enzi said. “Our generation of baby boomers are nearing retirement, but if we don’t spend wisely now the babies of the baby boomers will be bust.”