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padobson | 2 years ago

Certainly those late 90s budgets all kept government expenditures below 20% of GDP.

You could also try to raise taxes without stifling growth (and thus reducing revenues), but that's an even harder technical problem to pair with a similar political problem. Personally I'd be in support of a constitutional amendment that caps Federal revenues at 20% of GDP, so I wouldn't be on board for this, but to each his own.

Take a look at page 39 in the latest budget summary[0] and see if you can find the right places to raise revenues and cut spending to eliminate the $1.148 trillion deficit for 2023.

[0]https://www.govinfo.gov/content/pkg/BUDGET-2022-BUD/pdf/BUDG...

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