What did you expect from an administration and Congress that has declared all-out war on those who actually PAY most of the taxes?
But sorry, it's mostly the spending.
Here's that famous graph, which probably would look even worse if done now:
Receipts in 2007, the highest ever (all numbers here are in 2000 dollars), were $2,126 billion.
Receipts are certainly lower now ($1,650 billion in 2009), but how can that alone account for a $1.1 trillion 2009 deficit?
Obama's budget projects that receipts will reach $2,069 billion in 2011 (second highest ever). Receipts are predicted to grow from there to $2,539 billion in 2014, and continue to increase beyond that. Projected receipts for 2019 are around $3,000 billion. Yet the deficits for those years also continue to increase.
Current Events » in reply to Re: October monthly deficit numbers out
Re: revenues