DevinDenver Wrote:
Mar 05, 2013 10:45 AM
I find it intriguing that Trumbell completely misses the basic arithmetic here. On the one hand, he notes that tax revenues, although projected to be at historic numeric highs, will still fall short of the 2007 level as a percent of GDP. The 2007 level was 18.5% of GDP. On the other hand, Trumbell notes that the 35 year average of government spending comprised 21% of GDP. Does he not see that even at these levels, we are still spending more than we take in? Even at the glory days levels, we are still running deficits and that PROVES we have a SPENDING PROBLEM.