Congress is debating major funding bills that would avoid another of those phony government “shutdowns” now scheduled for Jan. 30. One sticking point is that Democrats want to either defund ICE, or greatly reduce its budget even though it is following the law in arresting and deporting people from other countries, some of whom have committed crimes while here.
Adding nothing positive to this debate is Mitt Romney, the former Republican nominee for president in 2012.
In a lengthy letter to the editor of The Wall Street Journal, Romney seems to be channeling Democrats when he writes that he is fine with tax increases because “… continuing to add to the national debt at a rate far greater than the growth of the economy can’t go on forever.” It can go on long enough to result in serious consequences if Congress refuses to address the main problem, which is not revenue, but spending. Romney is at the wrong end of the debate.
The U.S. government has been taking in record amounts of revenue, largely driven by a surge in tariff collections under President Trump’s policies. Total revenues have reached new highs, exceeding $5 trillion in Fiscal Year 2025. Individual income taxes have reached record levels in recent years, significantly boosting federal coffers. Yet, the national debt is approaching $39 trillion. Visit USDebtClock.org and see how many numbers are in red and quickly rising.
So total revenue has hit new highs, individual income taxes are at record levels (though down slightly under President Trump), but the debt keeps rising. Raise your hand if you know why. Yes, it’s because spending keeps increasing and despite efforts by Elon Musk and his DOGE crew, Congress appears unwilling to reduce spending and borrow more money.