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.
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congress.govKent Conrad: “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…”
Editor's note · Context
Kent Conrad explains the implications of spending versus revenue levels on the budget deficit.
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