Political Quotes

“I thank Mr. Price of North Carolina so very much. His thoughtful discussion of this is much appreciated. He mentioned the deficit issue. $1.5 trillion does not include the interest on the $1.5 trillion. So if you were to add the interest to the $1.5 trillion, it would actually probably be over $2 trillion to $2.3 trillion that this will cost. The actual reduction in revenues, $1.5 trillion, interest on top of that another $600 billion or so, so we are looking at something really serious here. I would like to go through some of the numbers. I looked at this. This is not something that is off 10 years from now. This is now. In 2019, the structural deficit that is already in place, without even talking about this additional burden of increased deficit, the underlying structural deficit in 2019 is right around $600 billion. This tax bill will add maybe $250 billion to $300 billion of additional debt in 2019. So we are going to get very close to $1 trillion of deficit in 2019. And, by the way, the military budget is increased by about, I think it is over $50 billion. That is not paid for, so that is additional debt. That is going to be here on the floor tomorrow or the next day. In addition to that, there is this ongoing effort to deal with the hurricanes, fires, and so forth. That is another $120 billion that is not paid for.…”