At the end of the Clinton era, federal tax revenues were $1.991 trillion. At the end of the Bush era in 2008, federal tax revenues were $2.524 trillion, an increase $533 billion or 27 percent.
Spending at the end of the Clinton era was $1.862 trillion. At the end of 2008, spending was $2.982 trillion, an increase of $1.120 trillion or 60 percent. Since 2008, spending has increased another $836 billion or 28 percent more.
From the actual numbers from the Congressional Budget Office, our problem is not revenues, it is spending. Yet all we hear is that we do not pay enough in taxes.
Now our politicians want to spend another $447 billion to create jobs. If this $447 billion will create millions of jobs, why has the increase in spending since 2001 of $1.956 trillion not created jobs?
Can anyone say Greece?