Political Quotes

John Spratt: “I have here a copy of the President's budgetary proposals for fiscal year 2008 published by the Congressional Budget…”

On the recordMay 8, 2007
I have here a copy of the President's budgetary proposals for fiscal year 2008 published by the Congressional Budget Office. If you turn to page 6, you will see that the cost of the tax cuts, extending the tax cuts, which the motion proposes, the cost or the revenue impact of that in the year 2012 is $231 billion. That is what CBO says. If you now add $96 billion to that, the surplus that year must be $327 billion. The surplus, $327 billion. Last year the deficit was $248 billion. If we move to a surplus of $327 billion in the year 2012, that requires a movement in the right direction of $575 billion which is hard to believe.
Said by
John Spratt
South Carolina
Source
govinfo.gov

Editor's note · Context

Discussing the fiscal implications of the President's budgetary proposals for 2008.

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