The argument is simple: let the government raise taxes (Obama’s “balanced” approach), and the government will not only spend all of this increased revenue, but will spend more than that, borrowing against future “expected” revenues, which will plunge us further into debt.
Here is the proof.
This is federal government spending per capita, adjusted to current (2008) dollars. Note carefully that this (familiar) picture shows an exponential increase.
This is matched by the per-capita debt (in 2011 dollars). It is also exponentially increasing. This is money we the people owe. Meaning money you owe (if you are an American).
Finally, this, which shows that outlay drives debt (in case it wasn’t obvious):
The government—which means the people we elect and those that populate the bloated and ever increasing bureaucracy—must be stopped from taking any more of our money.
I will be curious to hear from those who feel that taxes should be raised and how they think these increases will alleviate the debt.
For a story which shows the economic depressing effect of bureaucracy, click here.