Rep. Arrington: We Should Offset the Tax Cuts with Spending Reductions and Bend That Debt to GDP

GARRETT When you think ░░░░░░░░ the budget and the ░░░░░░░░ by which to finance ░░░░░░░░ cuts either the existing ░░░░░░░░ or new ones you ░░░░░░░░ going to count on ░░░░░░░░ revenue are you not ░░░░░░░░ Well I think we ░░░░░░░░ count on reducing spending ░░░░░░░░ is runaway bankrupting levels ░░░░░░░░ spending at 2 trillion ░░░░░░░░ annual deficits that will ░░░░░░░░ in the next 10 ░░░░░░░░ Half of that 2 ░░░░░░░░ is interest on the ░░░░░░░░ That will more than ░░░░░░░░ in the next 10 ░░░░░░░░ So we have a ░░░░░░░░ problem That deficit spending ░░░░░░░░ driving world war levels ░░░░░░░░ debt and will bankrupt ░░░░░░░░ country So I think ░░░░░░░░ should offset the tax ░░░░░░░░ with spending reductions and ░░░░░░░░ that debt to GDP ░░░░░░░░ revenue from tariffs could ░░░░░░░░ two things accelerate the ░░░░░░░░ of deficit to GDP ░░░░░░░░ do what the president ░░░░░░░░ said he wants to ░░░░░░░░ in this America first ░░░░░░░░ put our nation on ░░░░░░░░ path to balance But ░░░░░░░░ can also provide tariff ░░░░░░░░ like he did in ░░░░░░░░ first administration for farmers ░░░░░░░░ West Texas for example ░░░░░░░░ the market facilitation payments ░░░░░░░░ took the sting out ░░░░░░░░ the fallout from the ░░░░░░░░ stages of the trade ░░░░░░░░ before we had the ░░░░░░░░ for reciprocal trade So ░░░░░░░░ think those are better ░░░░░░░░ of tariff revenue but ░░░░░░░░ think we ve got ░░░░░░░░ bring down spending If ░░░░░░░░ don t then I ░░░░░░░░ t know how much ░░░░░░░░ we have before as ░░░░░░░░ Dalio says we re ░░░░░░░░ to have an economic ░░░░░░░░ attack and it will ░░░░░░░░ everything.”