Even if discretionary spending stays flat, total government outlays are estimated to increase by more than $1 trillion, significantly above any measure of tax revenues. And that is without considering a possible recession.
The moral of this economic story is that whenever someone who has an incentive to lowball the burden of a tax is speaking or writing, be careful to look at what happens to take-home income as a better guide to policy.
Despite its supposedly strained relationship with the Saudi regime, the Obama administration, for example, still managed to offer the royals of that kingdom a record $136 billion in US weapons between 2009 and 2017.
Anti-market activists in Argentina try to blame the country's economic woes on markets, but the populist movement of Peronism is what has doomed the country to endless cycles of economic and monetary crises.