Political Quotes

On the recordDecember 4, 2019
we have a debt issue in America. For some reason, we are losing track of that. The economy is so good right now. Unemployment is at historic numbers. The inflation numbers have stayed down. More Americans are bringing home more take-home pay, which means they can buy more stuff. More job opportunities are out there. In fact, we literally have 1.5 million more job openings in America than we have people looking for work in America. With the economy going so well right now, everyone is losing track of the debt and deficit, which are not going well right now. Last year, the Federal Treasury received more tax revenues than it has ever received in the history of the United States, which is surprising to some folks I have talked to who said that there was a big tax cut in 2017, so that would mean tax revenue would go down. It didn't. It went up. When that tax cut occurred, more people were able to bring home more money and to spend more, which created more jobs. There was more investment, and the economy charged up. So we actually have more revenue coming in now than we used to have, but we still have a trillion-dollar deficit. That is the amount of overspending in a single year. We have the highest amount of revenue we have ever had. Yet we have epic levels of deficit spending, adding to $23 trillion in total debt as a nation--$23 trillion. It is a number none of us can even fathom.…
Said by
James Lankford
Republican · Oklahoma
Source
govinfo.gov
Dec 4, 2019

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