US Spends 90% More Than It Collects In First 7 Months Of Fiscal 2021

Source: https://www.zerohedge.com/markets/us-spends-90-more-it-collects-first-7-months-fiscal-2021
Published: May 12, 2021
Author: Tyler Durden
Post Date: 2021-05-12 19:41:06 by Horse
Views: 95

In the seven months through April for Fiscal 2021, the Treasury collected $2.14 trillion in receipts while spending 90% more, or $4.075 trillion.

Poster Comment:

$4.075 minus $2.140 = $1.935 divided by 7 = $276,428,571 per month. Are you old enough to remember when LBJ first broke the $100 billion a year budget barrier? Seems like a different country before Israel killed JFK.

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#1: StraitGate    To: Horse (#0)

$276,428,571 per month

If the article's reported figures are correct, then the average monthly deficit for that period was actually 1000x higher than that: $276.4 billion, not million.

StraitGate posted on 2021-05-12 20:12:33   Reply   Private Reply

#2: Horse    To: StraitGate (#1)

My error. I was using a calculator and got decimal place wrong.

Horse posted on 2021-05-12 20:28:44   Reply   Private Reply

#3: StraitGate    To: Horse (#2)

I feel sorry for my children and grandchildren who will have to deal with the hyperinflation precipitated by fedgov's profligate printing presses. I don't see a jubilee on the horizon; I see only sweeping serfdom.

As you have pointed out here, buying food is going to be a serious problem. My grown children can hardly believe that their mother and I used to spend less than $30/week on groceries.

StraitGate posted on 2021-05-12 20:48:49   Reply   Private Reply

#4: Horse    To: StraitGate (#3)

It will be $3,000 a week soon enough. Maybe before after November 2024 plus or minus a year.

Horse posted on 2021-05-12 22:50:49   Reply   Private Reply

#5: Darkwing    To: Horse (#0)

Reference the title: this has been going on for for over 50 years, but people have to go after Biden.

Darkwing posted on 2021-05-13 07:30:10   Reply   Private Reply