We were probably doomed to see a major public debt crisis eventually when we cut taxes going into two extremely-expensive long wars under W Bush, the “probably” was upgraded to an “almost certainly” when we cut taxes again under Trump, then Covid happening removed the “almost” from that.
Now we appear to be trying to move the timing of the crisis from 20+ years out, to less than a decade out.
Federal Revenue actually went up after Trump Tax Cuts. I hope we can agree that there was some justification for a big spending bill in Covid time window. But after that, there was no justification IMO for the crazy spending that happened in the last 4 years.
