Tax Revenue's Flat, Spending's Out of Control
October’s half over already, so in honor of the Halloween holiday month we’re posting a Reason TV video clip on the US’ fiscal house of horrors, in 3D no less! Well… that’s assuming you have the old-school red and green 3D glasses on hand.
According to the Congressional Budget Office, government spending has skyrocketed while tax revenue as a percentage of GDP has stayed consistent over the past seven decades. See more details below, but here’s your fair warning: it’s “more terrifying than Rahm Emmanuel in a locker-room shower…”