Political Quotes

On the recordJanuary 7, 2009
If you are at 23 percent of GDP for spending, and you only get your revenues up to 18.2 percent of GDP, you have got a structural deficit of 5 percent of GDP.
Said by
Kent Conrad
Democratic · North Dakota

Editor's note · Context

Kent Conrad explains the implications of spending versus revenue levels on the budget deficit.

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More from Kent Conrad

Sep 6, 2016

We create a basic minimum benefit that will apply to about 10 percent of Social Security.

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Sep 6, 2016

If we are going to have tax-advantaged vehicles to encourage people to save for retirement, then the savings ought to be for retirement.

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Sep 6, 2016

You know, they are scared, and it makes them freeze.

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Apr 4, 2017

Things are changing very rapidly, and it presents us with a requirement to change how we envision retirement as well.

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