The Tribune editorial ”A supply-sider`s costly stubbornness”
perpetuates the myth that the budget deficit is a result of President Reagan`s 1981 tax rate cuts. Why doesn`t The Tribune report the actual tax revenue and federal expenditure numbers and let readers judge for themselves?
Despite Reagan`s tax rate cuts, tax revenues have increased 49 percent from $517 billion in 1980 to $769 billion in 1986, confirming the predictions of supply-siders. The deficit causing numbers clearly lie on the expenditure side, which have risen 68 percent from $591 billion to $990 billion in the same period.
And don`t tell us military spending is responsible: It makes up only 27 percent of the budget, less than under President Ford and only 5 percent higher than under President Carter. Domestic spending by the Democrat-controlled Congress is responsible for the deficit.
