Political Quotes

“Mr. Chairman, I thank Dr. Price, who is one of the really bright lights here in Congress, for his leadership on this. Imagine the CEO of a business telling the board of directors that he would like to buy a new piece of equipment. Unfortunately, this piece of equipment is fairly expensive. But there is good news, and that is, by buying and making this investment, they are going to become more profitable; they are going to improve their cash flow; they are going to be able to hire more people and grow the business. That is a beautiful thing. But then imagine that the board of directors goes back to the CEO and says, yes, you have to consider the cost of this equipment but you cannot consider the benefits of buying this piece of equipment, so it messes up entirely his profit projections. They are not able to consider the higher revenue and the growth that this company would undertake. That would be absurd and, of course, that wouldn't be a sound business decision. But that is exactly the situation that we find ourselves in right now. The Congressional Budget Office does not have the ability to account for economic growth, specifically, the impact on GDP when it comes from tax cuts. CBO is, unfortunately, in the role of the board of directors telling the businessowner--or the business CEO, in my example--that it can't use the full toolkit of economic modeling in making projections upon which to make these critical decisions. I have a degree in economics.…”