Yesterday’s Washington Examiner posted an article explaining why President Obama’s deficit reduction plan will not work. The article included two graphs:

The main point of the article is that tax revenues at the end of the Clinton administration hit 20.6 percent of the Gross Domestic Product (GDP). The highest number for that percentage is 20.9 percent in 1944. Unfortunately, government spending will reach levels well above 20 percent in the near future. The problem is not the revenue–it’s the spending. Most Americans have figured out that it is not productive to spend more money than you take in. It’s time the government also learned that principle.