Political Quotes

John Sarbanes: “The European Union, when they made the economic agreement with respect to all the European Union countries, set as a…”

On the recordApril 11, 2003
The European Union, when they made the economic agreement with respect to all the European Union countries, set as a requirement that the deficit that a country was running could not be greater than 3 percent of GDP; and countries had to go through a rigorous effort to get below the 3 percent of GDP figure as a deficit. Yet what the President has given us, and what is reflected in this budget resolution as a first significant step in that direction, is a policy that is going to put the deficit as a percentage of GDP in the double figures. It will well exceed 10 percent.
Said by
John Sarbanes
Democratic · Maryland
Source
govinfo.gov

Editor's note · Context

Discussing the budget resolution and its impact on the deficit during a floor speech.

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