Let's talk about what's the appropriate level of revenues as a percentage of GDP and then match the spending to that. Rather than arguing about particular programs in a particular situation, we ought to be looking at the overall picture. For most of the last 20 or 30 years, both lines [spending and revenue] have been around 20% of GDP. During the end of the Clinton administration, revenues were a little above. That's when we had a balanced budget. And then the Bush tax cuts and the Trump tax cuts took us down to 16 or 17% of GDP. (51:08–51:17)
CLAIM
Asserts that both federal spending and revenue have been around 20% of GDP for the last 20-30 years.
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