Jennifer Pollom has a long piece up at Economics 21, which argues that long term spending, not taxes are the problem. By my reading Pollom makes three big points
- Revenues, even after accounting for the Bush tax cuts, are not that far out of line with historical norms.
- Spending on the other hand is growing like gangbusters
- The core of the spending problem is Health Care
Pollum also makes some important comparisons, noting for example that tackling spending growth without touching entitlements would require either scrapping the military or scrapping the entire rest of the government. In fact, even the latter wouldn’t completely do the trick.
Here core argument is essentially correct but there are some important caveats to be made.
First, Pollum, like just about everyone else, leans heavily on this set of graphs.
You see that last date over there in the right-hand corner. If you squint…
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Utopia, you are standing in it! 
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