On the recordJuly 19, 2011
The real problem is that tax revenues have declined from 20\1/2\ percent of GDP in 2000 to 14\1/2\ percent of GDP because we no longer tax the millionaires, the billionaires and the large corporations the way we used to. Let's start doing that, and we can have a balanced budget without phoney constitutional amendments which promise balanced budgets, without showing how, but that do protect the millionaires from paying their fair share.
Source
govinfo.gov
