Despite GOP Claims, Deficit Is A Revenue Problem

April 11, 2011 12:05 pm ET — Jamison Foser

Rep. Joe Walsh (R-IL) says the "root" of the "debt crisis" is spending, not revenue:

Rep. Joe Walsh tweet

Rep. Chuck Fleischmann (R-TN) agrees that "DC doesn't have a revenue problem, it has a spending problem": 

Rep. Chuck Fleischmann tweet

That is simply false, as this chart from Nobel Prize-winning economist Paul Krugman illustrates:

Krugman chart

Here's another, also from Krugman:

Krugman chart

So, that's pretty clear. The only question is whether Reps. Walsh and Fleischmann somehow don't know this or are intentionally lying about the situation.

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