07.25.19

Senator David Perdue Talks Bipartisan Budget Agreement On CNBC

“Under this bill, discretionary spending is still falling as a percentage of GDP.”

WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) joined CNBC’s Squawk Box to discuss the budget deal reached by the Trump Administration and congressional leaders, as well as the United States-Mexico-Canada trade agreement (USMCA).

Click here or on the image below to watch.

 Squawkbox

Highlights:  

Debt Hawk: “I’m a debt hawk as much as anybody here in the Senate. Under this bill, discretionary spending is still falling as a percentage of GDP. The irony here is while some people will say ‘I don’t want any spending increases,’ they don’t say anything about mandatory spending, which is going up $420 billion over the next two years. That’s where the battle is to get this debt under control.”

Three Options: “We have three options. One is to take this deal. Second is sequestration, which would reduce military spending dramatically, and we saw what that did a decade ago. Third is another continuing resolution over the next year, and that adds billions of dollars to the military expense.”

Pass The USMCA: “The USMCA is a great deal. It adds 176,000 new jobs and $68 billion to the GDP. It puts much stronger labor and wage controls in Mexico. Mexico has already ratified it. Canada is in the process of ratifying it right now. I believe if we put that bill on the floor today, it would pass both the Senate and the House.”

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 When Senator Perdue was elected, he was the only Fortune 500 CEO in Congress. He is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget, and Agriculture Committees.