The Hard Fiscal Facts

Despite tax revenues nearing the all time high set back in 2007, the federal deficit has now reached the $1 trillion mark for the last 4 years.  I would say that this is change we could believe in, but it really isn't change at all is it?

But here we sit at the verge of the fiscal cliff asking ourselves, do we prolong the pain or just stick our heads in the sand?  It's not about the revenue that the government is taking in, it's about the amount of money going out the door.

If there is one issue that we completely disagreed with Romney on, it was that the national defense budget must come down.  We cannot sustain the current level of spending in order to be policeman to the world which contributes to the deficit.

As this WSJ article also points out, that the increased revenues have occurred in the face of a meager recovery with GDP growth between 1% and 2%.  Any increase in GDP would theoretically increase the amount of revenue.