[caseysoftware]

But you're one step removed.

Deficits are income minus expenditures.

If expenditures are increasing faster than income (regardless of how fast income is growing), then there will always be deficits. A better measure would be to look at income (aka tax revenues) which usually come from productive economic activity.

Your analysis is closer "eating vegetables makes you fat!" while ignoring that you're eating three desserts after each meal.