That's when we had a balanced budget. And then the Bush tax cuts and the Trump tax cuts took us down to 16 or 17% of GDP. And The difference between that [16-17%] and that 20% number that's been relatively constant, that's the deficit. And so I think a more comprehensive discussion of this issue is really important. Thanks Maya, for that. Senator, thank you so much. (51:27–51:34)
CLAIM
Asserts that the gap between reduced revenues and the 20% GDP spending level constitutes the deficit.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
