Why Your Taxes Are Never Enough for the Federal Government
This National Review analysis by Jim Geraghty argues that the U.S. federal government's persistent budget deficits stem from unchecked spending rather than insufficient tax revenue. Despite collecting approximately $413 billion monthly and achieving record revenues of $2.48 trillion in the first half of fiscal year 2026—a 10 percent increase from the previous year—the government spends roughly $583 billion per month. The article highlights that tariffs under the Trump administration significantly boosted customs duties to nearly $195 billion in fiscal 2025, yet these remain a small fraction of total income. With the nation on pace for a $1.6 trillion deficit, the author contends that efforts by the Department of Government Efficiency (DOGE) are insufficient because they avoid reforming entitlement programs. The piece emphasizes that even with tax cuts or economic growth, revenue naturally increases, but political reluctance in Washington to address structural spending guarantees rising national debt. Consequently, the core issue is identified as out-of-control expenditure rather than a lack of funds, challenging the common narrative that higher taxes are the solution to fiscal imbalance.
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Why Your Taxes Are Never Enough for the Federal Government
This National Review analysis by Jim Geraghty argues that the U.S. federal government's persistent budget deficits stem from unchecked spending rather than insufficient tax revenue. Despite collecting approximately $413 billion monthly and achieving record revenues of $2.48 trillion in the first half of fiscal year 2026—a 10 percent increase from the previous year—the government spends roughly $583 billion per month. The article highlights that tariffs under the Trump administration significantly boosted customs duties to nearly $195 billion in fiscal 2025, yet these remain a small fraction of total income. With the nation on pace for a $1.6 trillion deficit, the author contends that efforts by the Department of Government Efficiency (DOGE) are insufficient because they avoid reforming entitlement programs. The piece emphasizes that even with tax cuts or economic growth, revenue naturally increases, but political reluctance in Washington to address structural spending guarantees rising national debt. Consequently, the core issue is identified as out-of-control expenditure rather than a lack of funds, challenging the common narrative that higher taxes are the solution to fiscal imbalance.
nationalreview