"Republicans assume, and expect everyone else to assume, that the government is bringing in plenty of money to meet its needs. Sen. Jim DeMint (R-S.C.) went so far as to tell a national television audience this week, “Four of the last five years, we’ve had record levels of revenue.”
It’s important to understand how very wrong Republicans are about this. Federal revenues have dropped to 15% — a 50-year low. To bring the federal budget closer to balance, we’d expect to see this number around 19%. Given the fact that we’re fighting at least two wars and dealing with the aftermath of a brutal recession, all while worrying about deficit reduction, the fact that the right sees 15% as too high is insane."
We have a revenue problem. FACT
Republicans are completely and willfully wrong on this matter. FACT
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