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.
Source
congress.govIf 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.
Kent Conrad explains the implications of spending versus revenue levels on the budget deficit.
Share & report
More from Kent Conrad
I sense there is a feeling here that we have got to get some of these things done that are hanging out there.
You know, we met with a Congressman on the Ways and Means Committee this morning, and we were on a subject related to this. You really see it with our elderly people who do not have options or options are closing in on them.
The surviving spouse provisions are especially important with regard to offsetting some of the unfairness that exists elsewhere.