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Because tax revenue is fairly consistent as a percentage of GDP as well, so if deficit as a percentage of GDP exceeds faster than GDP growth then our debts are
by HideousKojima 3y ago
Because tax revenue is fairly consistent as a percentage of GDP as well, so if deficit as a percentage of GDP exceeds faster than GDP growth then our debts are growing faster than our ability to repay them.
- Sparkle-san 3y agoTax renevues were down 9% for the 2022 fiscal year which is part of why we saw a larger increase in the deficit. Part of that decrease is due to tax delays related to disaster relief and will come in during the 2023 year so the numbers are skewed.