Skip to comments.Dem. Lawmaker: ‘We Don’t Have a Deficit Problem Right Now’
Posted on 07/27/2011 9:07:04 PM PDT by Schatze
Rep. Jerrold Nadler (D-N.Y.) argued at a news conference with the Congressional Out of Poverty Caucus that the United States does not currently have a budget crisis.
"Thats the real crisis the unemployment, not the deficit. We dont have a deficit problem right now. In the long term, we have a deficit problem weve got to get it under control but not right now," said Nadler at the Capitol on Wednesday.
"Right now weve got to get unemployment under control. If we got unemployment down to 7 percent, down to 5 percent, which is what it was in 2005, and 2007 rather before the recession hit, if we got it down to 5 percent, half the deficit would be eliminated just by that half the deficit without cutting a nickel from the budget. So, we have to address the real problem. The real problem is we are not taxing properly."
The Congressional Budget Office (CBO) projects that the federal budget deficit will reach $1.5 trillion by the end of the fiscal year 2011. The current national debt limit is $14.29 trillion.
Rep. Nadler supports a higher corporate tax rate.
"In 1950, corporations paid taxes equal to 8 percent of GDP, today theyre paying taxes equal to less than 1 percent of GDP. In 1980, corporations' taxes were 6 percent, sorry, were 30 percent of total tax revenues, today theyre 6 percent of total tax revenues theyre taking the taxes off the corporations and off the rich," he said.
He continued, "When we talk about, weve got a budget deficit crisis no we dont. We have a tax crisis, we have a crisis that were not taxing properly and we have a recession and an unemployment crisis.
"The way to get out of that unemployment crisis is to spend money on more food stamps and on aid to states and local governments so they dont lay off people and on infrastructure so we can be competitive and put people to work and if we did that, unemployment would go down, tax receipts would go up and wed be well on our way out of this so-called crisis."
Yea, and Jeffy doesn’t have a weight problem either.
The country's in the finest of hands.
My gosh, does not the Democrat Leadership inform their underlings (and he is one) that the government is in dire straits. Maybe he thinks that we can continue to spend and borrow until we collapse. Well that does seem to be the thinking of the Democratic Party! Please show me anything different...
We are doomed if politics as usual continue...
Congressional Out of Poverty Caucus
These people are living in denial that their socialist ideas do not work
Fat Nadler doesn't realize it but he's talking Reaganomics! Grow your way out of the deficit. The problem is that unlike Reagan, Nadler has no clue as to how to do it. His words and mind are empty of practical solutions.
Zat so, Mr. Nadler? In that case, y'all need to do some TALL apologizing to George W. Bush, who was continually EXCORIATED by the Democrats about the deficits all 8 years of his administration.
spend money on more food stamps
How are we supposed to get out of the hole when jerks like this want more people in the entitlement line and not the employment line. Stupid is as stupid does.
The ignorance of liberals is stunning.
On a side note, and strictly out of curiosity...did Jerrold the Hutt have his stomach stapled, or what?? He seems to have dropped 4 or 5 hundred pounds over the past few years and he is nowhere near the disgusting fat body he used to be.
He still has more chins than a Chinese phonebook, but progress is progress...
You know, I just simply give up! Both parties seem to be more interested in re-election than saving the country (or even helping the country). I am just going to crawl into my own hole and wait for the apocalypse... Let it come...!!
Rep. Jerrold Nadler, D-N.Y., who once weighed in at 340 pounds, had gastric bypass surgery in 2003 after admitting he was unable to ride the city subway because he couldn't climb the stairs. Nadler has since lost 100 pounds.
Well, color me "relieved." /sarc
I can’t believe Jerrold hasn’t already popped by now.
I agree. Throw the whole log of shyt at the fan. Lets get this over with here, and now. I am sick and tired of having to clean up the remains of little butt nugget sized shyt hitting the fan over the last few years.
Let the bubbles pop, get out of the damn way, STOP spending more than you take in and let us, the private sector SAVE the country.
Yep! Time for the bubble to pop!...
I really thought this was one of those satire posts.
There, all fixed!
There, all fixed!
Lessee.... Unemployment around 5% in 2005-07 and then it began going up.
I guess the fact that the Dems won control of both the House and Senate in 2006, with large enough numbers to override any Bush vetoes, couldn’t possibly have contributed to the increased spending and higher unemployment which jumped us right into a recession. Nah!