Jalene Hahn: Growing debt-to-GDP ratio points toward looming crisis

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  1. “Taxes collected cover roughly 97% of government expenditures.” This is very inaccurate. Round numbers are $5T in revenues vs $7 in expenditures so taxes cover on 71% of expenses. “…large-scale tax reforms…” => Opps, left out the part that the cuts overwhelmingly benefit the *very* rich who already got a big tax cut under Trump version 1. Though I think the war in Iran is misguided, the amount we’ve spent is a tiny fraction of our annual deficit.

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