(CNSNews.com) – The federal government spent $2,573,708,000,000 in the first seven months of fiscal 2019 (October through April), setting an all-time record for real federal spending in the first seven months of a fiscal year, according to data published in the Monthly Treasury Statements.
Prior to this fiscal year, the most that the federal government had ever spent in the first seven months of a fiscal year was in fiscal 2011, when it spent $2,476,257,690,000 in constant April 2019 dollars (adjusted using the Bureau of Labor Statistics inflation calculator).
Federal spending in the first seven months of this fiscal year exceeded the previous record by $97,450,310,000.
At the same time that the Treasury was spending the most it has ever spent in the first seven months of a fiscal year, it also ran a deficit of $530,870,000,000.
With April 15 as the deadline for filing tax returns, the month of April is ordinarily a boom time for federal tax collections—and this year was no exception. The Treasury collected $535,545,000,000 in total taxes during the month compared to $228,811,000,000 in March and $167,265,000,000 in February. more here
The good news is that federal tax receipts (money coming in, not going out) are at an all time high thanks to the Trump corporate tax cuts ( American businesses putting new found capital to work expatriating foreign dollars back home, building new factories, hiring more workers, creating more profits, which are then taxed at a lower rate).
And all those Democrats are lying; deficits are created by too much spending, not a lowered tax rate. TBH, looking at those ridiculous numbers makes my eyes glaze over, it’s like Monopoly money, and it is unacceptable.
Trump is putting Obama to shame in spending money he does not have. More Puerto Rico bailouts (what a money pit that place is), promising Venezuelans even more aid. Now he is promising all farmers that are losing money in the tariff wars more government subsidies. Yeah, I know that the House writes the checks but those dems are only too willing to push Trump off the fiscal cliff.
Anyone thought that the Fed Gubmint partial closure for 35 days would save us money, please raise your hand.
And this is news?
Money isn’t spend in DC to improve the life of individuals, it’s used to manipulate those individuals.
Congress appropriates money and the President goes along with it.
Doesn’t make any difference who run Congress or who is President from what I can see.
The Government drones apparently believe that records are meant to be broken!
“Real” federal spending? Sounds unreal to me.
“$2,573,708,000,000″………. I do not even know what that number is!
“Speaking the truth in times of universal deceit is a revolutionary act.” Geo. Orwell
How much did it cost the taxpayers to run the House of Reps? Must have been a large %age of this total.