He slashed Army and Navy expenditures, cut the budget, eliminated the tax on whiskey so unpopular in the West, yet reduced the national debt by a third.

他削减了陆军和海军的支出，削减预算，取消了对威士忌这种西方人最喜爱的酒进行征税，但减少了国家债务的三分之一。

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Tax reform must reduce the size and number of tax expenditures to reduce the budget deficit and lower marginal tax rates for individuals and corporations.

FORBES: Days Before Sequester, Bowles and Simpson Offer A Second Plan For Fiscal Sustainability

Besides widening the budget deficit, tax expenditures encourage behavior that likely would have occurred anyway or just plain doesn't make good economic sense.

FORBES: Magazine Article

Table 1 below shows Federal Tax Revenues, Federal Expenditures and the Budget Surplus or Deficit from 1993 (the first year of the Clinton Presidency) to 2011.

FORBES: After Bush Tax Cuts, Payments By Wealthy Actually Increased