Let's Stop Playing Games

 Our national debt is primarily due to:

1. Corporate tax cuts going back 50 years,
2. The War on Terror, &
3. Our Federal Government’s response to COVID.

 

I make this conclusion based on my analysis of data obtained from the Congressional Budget Office (CBO) and FRED - Federal Reserve Economic Data.  Please see the following four charts to discern that picture.

I realize this a high-level look back of what-ifs, but it does indicate that we need to raise taxes if we want to prevent a debt crisis.  I do not believe we can cut expenses to solve our problem.  Moreover, I think expenses have been cut, what else may explain the dips in the national debt when individual tax receipts as percentage of GDP increased?  Looks like I will have to do some more research to find out.  Stay tuned.

 

 

Lastly, if you want to see my workbook then please send me a note.