On the causes of deficits

The US budget deficit is falling, but it is expected to rise again next year. Unfortunately Rob Portman, head of the Office of Management & Budget has fallen into the leftist trap of saying next year's rise is due to a slow in the growth of revenues.

Huh? Revenues go up (albeit more slowly) and this causes the deficit to go up? Nope. Arithmetic does not work like that. If revenue goes up and the deficit goes up that can only be because expenditure is rising even faster.

As ever, the deficit is caused by runaway expenditure.

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