Tax revenues set records in Q1. There was no decrease in federal income due to the tax cuts.
Where the problem lies is the Feds spend money faster then they take it in.
No matter was is going on, good economy/bad economy what ever the Govt spends spends spends. Until people stop voting for the spend aholics in Congress all this hand wringing about the Debt is just so much chicken little self gratification
RE: Tax revenues set records in Q1. There was no decrease in federal income due to the tax cuts.
Where the problem lies is the Feds spend money faster then they take it in.
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You hit the nail right on the head. It happened when Reagan was President as well.
The one time I remember that it did not happen was when Gingrich was the Speaker of Congress and Trent Lott was the Senate majority leader.
They were able to force Clinton to sign on to their budget. We had a budget surplus then.
GW Bush and the Congress he worked with SQUANDERED that and things have never been the same and only gotten worse.