As Scott Bessent has correctly stated, the United States does not have a revenue problem; it has a spending problem. The CBO expects annual outlays of $23 trillion in the 2026-29 period.
What do we know?
No revenue measure will eliminate the deficit. The United States’ governments have implemented numerous tax increases in the past decades and the national debt continues to reach record levels. Additionally, when revenues rise, governments spend even more than before.
The US spending problem comes from a completely unsustainable increase in mandatory spending, which is never audited and simply rises without control. Mandatory spending is expected to increase to $14 trillion per annum. Overspending and inefficiencies in these programs have never been properly tackled.
The measures announced by the Trump administration so far may bring an additional $300 billion in revenues. If the current pace of savings announced by DOGE is sustained, it could reach $1 trillion. However, as time passes, some of the savings are more difficult to find. Furthermore, the deep state machine is doing all it can to prevent any more cost savings, even using the judicial system.
The United States needs a chainsaw, like Milei implemented in Argentina. Considering that state and local departments will resist as much as they can and try to sabotage any spending cut, the government needs to implement a mandatory zero deficit in all administrations, effectively stopping the debt hemorrhage in the system.
Yes, we need Milei’s chainsaw for our budgetary slashing. It is a good thing that he gave Musk a chainsaw to apply to all the nonsense in the current bureaucracy. Fortunately, this new chainsaw, DOGE, is cutting through the graft and corruption very well too! The discovery process of The Audit is doing the job it is designed to do: discover fraud and mismanagement in the departments. I especially look forward to seeing what kind of chainsaw Musk and Trump can bring to the Department of Defense, maybe up to 50%!!! Wouldn’t that be grand. Perhaps all of the expensive toys that can be brought down with cheap little drones will somehow not be financed anymore.