Does the United States have a revenue problem or a spending problem? The interactive visualization below may help you decide.
Spending and revenue are presented as a percentage of Gross Domestic Product (GDP). One observation is the tax revenue has risen on a fairly steady progression until the Bush II and Obama recessions. This is in spite of the top marginal tax rate varying wildly during this period.
Were the budget surpluses of the late years of the Clinton presidency due to rising tax revenue, or declining spending?