WASHINGTON, DC - Senator Joe Lieberman (I-CT) released the following statement today regarding the Congressional Budget Office’s biannual Budget and Economic Outlook:

“The sky may not be falling but our nation’s fiscal house will be collapsing unless we take dramatic and urgent action to reduce the deficit. Today’s CBO report detailing the fourth straight year of trillion dollar deficits is a call to action for a bipartisan plan to bring our deficits under control, even though some would say it is too difficult to act in an election year. Our failure to act in the next few months would trigger a sequester, irresponsibly slashing critical domestic and defense programs. Nothing we do this year in Congress will be more important to promoting an economic recovery than dramatically and responsibly reducing the deficit, and nothing could be more irresponsible than kicking that can down the road.”