On Friday’s broadcast of NewsNation’s “Cuomo,” Rep. Adam Smith (D-WA) stated that many Democrats try to make arguments that increasing spending saves money that “would make an accountant’s head explode” “because that’s all just theoretical B.S.” that “doesn’t work.”
Smith stated, “We’ve got a fiscal problem, but no one wants to really admit why we have a fiscal problem. We have a fiscal problem, basically, because, as a country, we want roughly $5 in goods and services for every $1 in taxes that we’re willing to spend, and also, politicians have gotten very good on the campaign trail [at] creating the illusion that we can deliver that.”
Smith continued that Republicans like to claim “reducing revenue doesn’t actually reduce revenue. … I’ve got a lot of Democrats that come to me on a spending program and they say, for every $1 we spend on this program, it saves, I’ve heard as high as like $13. It would make an accountant’s head explode, okay, because that’s all just theoretical B.S., alright. It doesn’t work. And then you wind up with a $35 trillion deficit because we’ve told people, we can cut your taxes, we can increase your spending, and everything’ll be fine.”
Smith further stated that Republicans haven’t given any specifics on what they would cut.
Follow Ian Hanchett on Twitter @IanHanchett
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