Total federal revenues doubled from just over $517 billion in 1980 to more than $1 trillion in 1990. In constant inflation-adjusted dollars, this was a 28 percent increase in revenue.
As a percentage of the gross domestic product (GDP), federal revenues declined only slightly from 18.9 percent in 1980 to 18 percent in 1990.4
HOW DID REAGAN'S POLICIES AFFECT FEDERAL SPENDING?
Although critics continue to focus on President Reagan's budget "cuts," federal spending rose significantly during the 1980s:
Federal spending more than doubled, growing from almost $591 billion in 1980 to $1.25 trillion in 1990. In constant inflation-adjusted dollars, this was an increase of 35.8 percent.
So revenue increased 28% but spending increased 35.8%. Tell us about national debt during those years. There is a reason Bush called it voodoo economics.
<quoted text> http://www.heritage.org/research/reports/2001...