John Spratt: “When the President came to office, he had an advantage that no…”

On the recordFebruary 16, 2005

When the President came to office, he had an advantage that no President in recent times had enjoyed, a surplus projected to be $5.6 trillion between 2002 and 2011... That surplus is now gone, vanished. In its place there is a deficit over the same time period of $3 trillion to $4 trillion. This shows you how the $3 trillion to $4 trillion accumulates over that period of time. We have had a swing of $8.5 trillion to $9 trillion in the budget over a 4- to 5-year period of time, a swing in the wrong direction of $8 trillion to $9 trillion.

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John Spratt

South Carolina

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govinfo.gov

Editor's note · Context

Discussing the budget surplus and deficit during a floor speech.

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John Spratt: “When the President came to office, he had an advantage that no President in recent times had enjoyed, a surplus…”

Editor's note · Context