See other National News Articles
Title: Federal Spending Tops $3 Trillion Through May for First Time; Deficit Hits $738 Billion (For 8 months)
Source:
[None]
URL Source: https://www.cnsnews.com/news/articl ... gh-may-first-time-deficit-hits
Published: Jun 13, 2019
Author: staff
Post Date: 2019-06-13 07:03:30 by Horse
Keywords: None
Views: 1066
Comments: 2
CNSNews.com) - For the first time in the history of the United States, the federal government has spent more than $3 trillion in the first eight months of the fiscal year, according to the Monthly Treasury Statement released today. The record $3,013,541,000,000 that the federal government spent in October through May of fiscal 2019 was $181,157,920,000 more than the previous record of $2,832,383,080,000 (in constant May 2019 dollars) that the federal government spent in October through May of fiscal 2009. Total federal tax revenues in the first eight months of fiscal 2019 hit $2,274,902,000,000, which fell $5,612,990,000 short of the record $2,280,514,990,000 (in constant May 2019 dollars) that the Treasury collected in total tax revenues in the first eight months of fiscal 2016. Even with the second highest tax revenues ever collected in the first eight months of the fiscal year, the federal government still ran a deficit for those eight months of $738,639,000,000. Table 3 of the Monthly Treasury Statement, which summarizes federal receipts and outlays for the current fiscal year to date, indicated the Department of Health and Human Services cost the most money, accounting for $834,346,000,000 in federal spending in the first eight months of the fiscal year. The Social Security Administration cost the second most, accounting for $730,000,000,000 in federal spending during the period. The Department of Defense was third, accounting for $439,289,000,000 in federal spending. The combined $1,564,346,000,000 the federal government spent on HHS and the Social Security Administration during the first eight months of the fiscal year equaled 51.9 percent of the record total of $3,013,541,000,000 in federal spending during the period. The combined $1,564,346,000,000 spent on HHS and Social Security was 3.56 times as much as the $439,289,000,000 spent on the Defense Department. CNSNews Reader, 
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: All (#0)
I still think the tipping point for an economic decline will be dual action: 1) Foreigners sell US stocks when the US economy slows down 2) When they pull out of dollars, they might pull out of dollar denominated assets altogether which would collapse the dollar causing runaway inflation.
The Truth of 911 Shall Set You Free From The Lie
When Berry, sorry Obama was in office the RINO's bitch and yelled on the MSM about his spending, even when it is congress. NOW with Tramp, sorry Trump in office NOTHING from the MSM.
#2. To: Horse (#0)
Top • Page Up • Full Thread • Page Down • Bottom/Latest