“I Always Use the Word Extreme”

30 Mar

Democrat Senator Chuck Schumer shed some light on the marching orders he’s been given from the Democrat caucus:  “I always use the word extreme….that is what the caucus instructed me to use this week.”

To Democrats, $60 billion in spending cuts is “extreme.”  Never mind the fact that the budget deficit for 2011 alone is $1.5 trillion (with a ‘T’).

We estimate that, if current laws remain unchanged, the budget deficit this year will be close to $1.5 trillion, or 9.8 percent of GDP. That would follow deficits of 10.0 percent of GDP last year and 8.9 percent in the previous year, the three largest deficits since 1945. As a result, debt held by the public will probably jump from 40 percent of GDP at the end of fiscal year 2008 to nearly 70 percent at the end of fiscal year 2011.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: