Lankford on Reducing Debt: ‘Only Way ... Is a Growing Economy & Limiting’ Spending

DICKERSON We turn now ░░░░░░░░ Oklahoma Republican Senator James ░░░░░░░░ He joins us from ░░░░░░░░ City Welcome Senator I ░░░░░░░░ to talk with this ░░░░░░░░ cut bill You have ░░░░░░░░ about the debt and ░░░░░░░░ deficit throughout your career ░░░░░░░░ of the independent analysis ░░░░░░░░ that this tax cut ░░░░░░░░ will add a trillion ░░░░░░░░ more to the debt ░░░░░░░░ then is this a ░░░░░░░░ you can support SEN ░░░░░░░░ LANKFORD R Oklahoma Actually ░░░░░░░░ the independent analysis doesn ░░░░░░░░ note that The Joint ░░░░░░░░ on Tax does note ░░░░░░░░ but the Tax Foundation ░░░░░░░░ t There s a ░░░░░░░░ of others We have ░░░░░░░░ different sets of economists ░░░░░░░░ are out there and ░░░░░░░░ of the challenge is ░░░░░░░░ looking at which one ░░░░░░░░ right All of them ░░░░░░░░ putting a forecast out ░░░░░░░░ All of them have ░░░░░░░░ numbers We have some ░░░░░░░░ high as a 5 ░░░░░░░░ growth We have some ░░░░░░░░ low as 0 8 ░░░░░░░░ growth All of them ░░░░░░░░ economic growth The guess ░░░░░░░░ how much economic growth ░░░░░░░░ in the bill itself ░░░░░░░░ target of any time ░░░░░░░░ do tax reform is ░░░░░░░░ try reduce taxes on ░░░░░░░░ and on businesses so ░░░░░░░░ have more money to ░░░░░░░░ they can spend that ░░░░░░░░ That encourages the economy ░░░░░░░░ grow We know it ░░░░░░░░ grow Now the guess ░░░░░░░░ how much DICKERSON That ░░░░░░░░ right And the Tax ░░░░░░░░ is still around 500 ░░░░░░░░ to the debt and ░░░░░░░░ are the majority of ░░░░░░░░ analysis shows even larger ░░░░░░░░ that bet you re ░░░░░░░░ isn t there a ░░░░░░░░ downside risk that you ░░░░░░░░ talked about throughout your ░░░░░░░░ which is that the ░░░░░░░░ effects of increased debt ░░░░░░░░ the growth that you ░░░░░░░░ trying to create LANKFORD ░░░░░░░░ The biggest issue that ░░░░░░░░ have if we have ░░░░░░░░ debt is to have ░░░░░░░░ issue of continued investment ░░░░░░░░ the federal government into ░░░░░░░░ and more interest payments ░░░░░░░░ have to get the ░░░░░░░░ growing though to actually ░░░░░░░░ on top of this ░░░░░░░░ have said for years ░░░░░░░░ debt has become so ░░░░░░░░ the only way to ░░░░░░░░ able to get on ░░░░░░░░ of this debt and ░░░░░░░░ is a growing economy ░░░░░░░░ limiting your spending We ░░░░░░░░ limited spending over the ░░░░░░░░ several years It s ░░░░░░░░ very small in its ░░░░░░░░ for spending but the ░░░░░░░░ has also been flat ░░░░░░░░ the last decade We ░░░░░░░░ not had a decade ░░░░░░░░ the last decade since ░░░░░░░░ 1940s So we have ░░░░░░░░ to get the economy ░░░░░░░░ again We re not ░░░░░░░░ again We never do ░░░░░░░░ on top of the ░░░░░░░░ and deficit without that ░░░░░░░░ you re right This ░░░░░░░░ something that s designed ░░░░░░░░ be able to energize ░░░░░░░░ economy It should work ░░░░░░░░ lot of people that ░░░░░░░░ looked at and examined ░░░░░░░░ say it will work ░░░░░░░░ so the focus for ░░░░░░░░ is let s get ░░░░░░░░ economy growing.