Are you f@$%ing kidding me? Federal Spending Sets Record in First 11 Months of Fiscal Year 2019 $4,155,323,000,000. So Much for Fiscal Responsible Republicans!
The Monthly Treasury Statement was released Thursday and revealed the federal government spent a record $4,155,323,000,000 in the first eleven months of fiscal 2019. Sending alarm bells to President Trumps fiscally conservative base. We are seeing improvement in many sectors and growth but many wonder if we are truly getting the money’s worth out of the money that is being spent. Many of Trump’s refer to him as another Ronald Reagan and this is not really what most believe Reagan would have done. The spending seems to be just as out of control as with the Democrats. Although many of these expensive programs were brought about in the Obama era.
While spending a record $4,155,323,000,000, the government ran a deficit of $1,067,156,000,000.
The most the federal government had ever spent in the first eleven months of a fiscal year before this one was in fiscal 2018 when the Treasury spent $3,951,247,170,000 (in constant August 2019 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).
Total federal tax revenues in the first eleven months of fiscal 2019 equaled $3,088,167,000,00. That was more than the $3,037,420,180,000 (in constant August 2019 dollars) that the Treasury collected in total taxes in the first eleven months of fiscal 2018, but less than the $3,099,536,720,000 in total taxes (in constant August 2019 dollars) that the Treasury collected in the first eleven months of fiscal 2017.
The Treasury also collected less in individual income taxes in the first eleven months of this year $1,534,886,000,000 than it did in the first eleven months of fiscal 2018 $1,548,213,460,000 in constant August 2019 dollars.
According to the Monthly Treasury Statement:
- Department of Health and Human Services $1,138,456,000,000
- Social Security Administration spent $1,013,175,000,000
- Defense-Military Programs spent $601,137,000,000
Credit: (CNSNews .com)