Everyone gets that.Hokie CPA wrote:Surplus (deficit) = Revenues - expenditures, when revenues ≠ expenditures.USN_Hokie wrote:Tax cuts don't increase the deficit / debt. Spending does.ElbertoHokie wrote:I'm most upset about the debt increase.
It's a pretty simple equation in which spending and taxes both play a role. If you cut revenues and don't cut spending by at least the same amount, then you most certainly do increase the deficit.
Tax cuts create deficits like riding in the rascal instead of walking at the piggly wiggly makes the 500lb lady fat. In the same vein, lack of exercise doesn't make the concentration camp prisoners fat.
The fat person is fat because he/she eats too much, and the deficit is so high because we spend too much. It's not a tax revenue problem.