John Sarbanes: “I am struck in looking at that chart by the extent to which the cost of these tax cuts explodes, as the Senator says, in…”

“I am struck in looking at that chart by the extent to which the cost of these tax cuts explodes, as the Senator says, in future years. For instance, take the year 2023, this is all deficit. But all of this part of that deficit is from the explosion of the tax cut. The balance is from what happens in the trust funds for Medicare and Social Security. But this chart so clearly demonstrates that these tax cuts that are being talked about have built into them a tremendous expanded cost in future years. It is extraordinarily dramatic because all of that is exploding tax cuts. We are being set on a path that is dooming us to large deficits and large debt.”