X @Nick Szabo

Government Finance - Federal tax revenues in 1974 were 16.87% of GDP [1] - Federal tax revenues in 2025 are projected to be 17.3% of GDP [1] - Federal spending in 1974 was 17.27% of GDP [1] - Federal spending in 2025 is projected to be 22.8% of GDP [1] Key Issue - Spending growth is identified as the primary fiscal challenge [1] - The assertion that tax revenues were historically higher is refuted [1]