Mike Pence: “the White House Office of Management and Budget just released its annual midyear budget update. Under article I of the…”

“the White House Office of Management and Budget just released its annual midyear budget update. Under article I of the Constitution, the House of Representatives has no higher priority than to see to the wise expenditure of the resources of the American people, and the word is, the news is good. This year's budget deficit is now forecast to be $296 billion, 2.3 percent of our economy, essentially equal to a historic average. The really good news is, the deficit is 30 percent below the administration's February forecast. Revenues grew by a dynamic 14.5 percent last year and are forecast to grow this year by $245 billion, or 11.4 percent. Revenues to the Federal Government are increasing because of the progrowth tax cuts that President Bush and this Republican majority brought forward. The tax cuts are working. The economy is growing. Revenues to the government are up. The deficit is down. All in all, not a bad day's work. ____________________”