Back when we had a surplus in 2000, federal revenues were ~20% of GDP.
In 2018, feds spent ~20.3% of GDP
Deficit would have been ~0.3% GDP w/Clinton-2000-era tax $
=*<$100 billion deficit.*
After a succession of tax cuts, revenue has dropped to 16.5% GDP.
Deficit? $779 billion.

— Steven Dennis (@StevenTDennis) October 17, 2018