I've shows this graphic a few times in various forms, but it really deserves to be repeated. At the federal level, we have two issues: low tax receipts and high spending. As I've pointed out a few times, the big issue in the spending room is health care costs in the federal budget. However, at some point, taxes are going to have to go up as well.
The above graph is from Econbrowser.
3 comments:
And yet the only two non-deficit periods shown on this graph (late 60's and late 90's) were almost immediately followed by recessions...
Sounds like a liberal: "We're spending too much, so let's raise taxes!"
Sounds like a conservative -- who usually can't comprehend anything beyond Sam I Am
I did say spending has to be dealt with
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