Op-Ed: Biden wants higher taxes and more spending. We have a better idea

This article originally appeared in Daily Caller on June 17, 2023

Having resolved the latest federal debt ceiling “crisis,” Congress now turns its attention to the federal budget for fiscal year 2024. True to form, President Biden proposes to increase federal taxes and spending by $4.7 trillion and $1.8 trillion, respectively, over the coming decade. He attempts to sell this policy by saying his plan would reduce the 10-year deficit by $2.9 trillion. We believe flipping the president’s numbers on their head would lead to far better outcomes for the country.

Please allow us to explain.

In the 40 years before the pandemic, federal spending averaged 21.1% of our economy, as measured by gross domestic product (GDP). The pandemic necessitated a temporary increase in federal spending, but sadly, even though the pandemic is but a fading memory, federal outlays remain substantially higher as a share of GDP than they were prior to the crisis. 

Read full op-ed in Daily Caller.