Here’s An Interesting Chart

It tracks U.S. Government revenue increases against U.S. Government spending increases going back through eight presidents. As you can see, the light blue bar represents the increase in revenue, and the dark blue bar represents the increase in spending by the U.S. Government during the tenure of each president.

The last one pretty well demonstrates what happens when you hand out multiple tax cuts while trying to prosecute two wars. Wonder if George understands now why he was the only president in history to do that? Even John McCain pointed out what a bad idea that was. Until he became a presidential candidate, of course. Then, he was of big fan.

Interestingly, one of the largest federal tax rate cuts in the history of this country came in the Revenue Act of 1964, under President Lyndon Johnson. And in case you’re wondering, we were not yet mired in the war in Vietnam when this took place. We were still only there in an advisory capacity. It wasn’t until 1965 that everything went to hell in Southeast Asia.