Douglas Elmendorf

“The federal budget is on an unsustainable path, meaning that federal debt will continue to grow much faster than the economy.”

“Putting the budget on a sustainable path would be a good thing for the country, and that the sooner that is done, the better.”

“The Affordable Care Act, on net, is going to reduce the budget deficit. That's a conclusion we came to and we have not changed our assessment.”

“We don't make policy recommendations. We are trying to be analysts who stand apart from the political process.”

“The sharp rise in debt that is projected to occur will have serious negative consequences.”

“Increased debt would reduce national saving, leading to higher interest rates, more borrowing from abroad, and less domestic investment.”

“The choices are difficult. There's no way to solve this long-term budget problem without asking for some sacrifice from some people.”

“If current laws remained generally unchanged, federal debt held by the public would exceed 100 percent of GDP by 2040.”

“The challenge for policymakers is to make future policies that encourage a stronger economy and a better-shared prosperity.”

“The economic recovery has been frustratingly slow.”

“There is no free lunch in the budget.”