"Federal Taxation doesn't fund Federal spending" sounds like a simple statement, but for the amount of cognitive dissonance one sees when trying to express this idea to the unaware, it would be. The reason for this dissonance is because this information goes counter to the narrative pushed by our leaders and orthodox economists.
Money is no longer a finite amount for a monetarily sovereign nation, and as such, the federal tax and spend model we used to subscribe to no longer fits how we now perceive to generate currency, and employ the unemployed. Before we look at that we must first define some terms and dissect their significance.
Fundamentalist finance is a doctrine, usually espoused by ill-informed politicians, for the operation of government consisting of two tenants; Government is just like a household and must balance its budget. Government debt is an immoral burden upon our children. It’s all bunk.
To all those elderly who worked hard to make a decent life for themselves and their families, many of who served our country to protect the freedoms we (at least for the time being) enjoy, the Trump administration wants to thank them for all their contributions to society by ensuring they have as short a life as possible.