revenue has shrunk in percentage terms for the fed. have a look at your current income tax rate as opposed to what it used to be, or if you're in business check your company tax rate.
the trick (for governments) is to keep increasing the size of the pie i.e. it's better to have a small slice of a big pie than a half share in a small pie. therefore your gdp percentage theory is flawed.
there has been an icrease in year to year tax revenue for both the states & the fed.
difference is that after the boom the fed government has plenty left over for the rainy day we are now experiencing whereas the states have nothing but empty pockets.
all governments MUST learn to spend less than they receive, otherwise they are doomed. it's just that simple.
