On Friday's episode of NewsNation's “Cuomo,” Rep. Adam Smith (D-Wash.) said many Democrats are trying to make an argument that would “make an accountant's head explode” by increasing spending. “Because it's all just theoretical basis,” he said. It doesn't work. ”
“We have a fiscal problem, but no one really wants to admit why we have a fiscal problem. Basically, we have a fiscal problem,” Smith said. That's because as a country, for every dollar of taxes we're willing to spend, we need about $5 of goods and services, and our politicians do very well on the campaign trail. [at] It creates the illusion that we can make it happen. ”
Smith continued that Republicans like to argue that “revenue cuts don't actually reduce revenue.” … I have a lot of Democrats who come to me about spending programs and they say that for every dollar they spend on this program, they save, I've heard as much as $13 or so. That would make an accountant's head explode, okay, it's all just rationale, okay. it doesn't work. And we're going to end up with a $35 trillion deficit because we've been telling people that they can cut taxes, they can spend more and everything will be fine. ”
Smith also said Republicans have not specified specifically what they will cut.
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