Last year, the US spent $1.7T more than it has received, and the controversial tax plan Biden put out in 2021 would rate revenue by $140-340B depending on the year. That's the most significant tax increase since 1951, and most have been less than a third that for the past 50 years. There have been a lot of Democrats in power in that time, and nobody took the deficit seriously.

You can blame Republicans all you want, but the point is that Democrats haven't been serious about raising taxes to cut the deficit. On the other side of the aisle, Republicans haven't been serious about cutting spending either. I find both major parties wholly disappointing, because even when they have a majority, neither actually does anything to really fix our fiscal problems.