By Issues & Insights Editorial Board | June 11, 2025
The first five months of the Trump administration have seen Democrat and media opponents completely lose their minds. When not screeching about threats to Democracy, they’ve been howling about massive spending cuts, warning about runaway inflation, and predicting a collapse in tax revenues.
Not one of these is coming to pass.
The latest monthly spending and revenue data from the Treasury Department. shows that from February through May of this year, federal spending was $37 billion higher than those same months last year.
Got that? Higher.
Tax revenues, which we were told by “experts” were going to collapse thanks to President Donald Trump’s attacks on the IRS, are $182 billion higher than they were the year before.
As a result, the federal deficit over these four months is $145 billion smaller than it was in the same four months when Joe Biden’s autopen was calling the shots.
Oh, and did we mention that inflation, which Trump’s tariffs were supposed to ignite, has once again come in “below expectations.”
Or that job growth is coming in stronger than expected. Or that the economy, which Trump was supposedly driving into a recession, is on track for 3.8% growth in the second quarter, according to the Atlanta Federal Reserve Bank’s “GDPNow” forecast.
But don’t let any of this good news distract you from whatever horror stories that unhinged Democrats and mainstream media miscreants are peddling.
Issues & Insights was founded by seasoned journalists of the IBD Editorials page. Our mission is to provide timely, fact-based reporting and deeply informed analysis on the news of the day – without fear or favor.
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