WARWICK, RI - Congressman Jim Langevin (D-RI) today is expected to participate in a hearing on the President’s Fiscal Year 2011 Budget. Peter Orszag, director of the Office of Management and Budget, is scheduled to testify before the House Committee on the Budget. 

“The President’s budget submission outlines the difficult task we face in balancing economic investment to combat unemployment against the obvious need for serious deficit reduction,” said Langevin, a member of the Budget Committee. “While Rhode Islanders are still looking for jobs, they are also looking for a government they can trust to live within its fiscal means.” 

Langevin is encouraged by the steps that the Administration and Congress have proposed to begin addressing a $1.6 trillion deficit and a national debt.

“A partial budgetary freeze, the enactment of PAYGO rules into law, and the establishment of a debt commission are important first steps toward achieving a balanced budget,” continued Langevin. “However, we must also be careful not to repeat mistakes made in 1937 during the Great Depression by rushing deficit reduction at the risk of halting economic recovery and dipping back into another recession.” 

In the coming weeks, Langevin will participate in numerous budget hearings, and will make deficit and debt reduction a priority, while ensuring continued job creation for Rhode Islanders.

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