Skip to comments.Federal Taxes Did Not Set Record Through June; $400,847,000,000 Deficit for First 9 Months of FY16
Posted on 07/14/2016 12:25:29 PM PDT by Olog-hai
The federal government collected approximately $2,468,827,000,000 in tax receipts in the first nine months of fiscal 2016 (October through June), according to the Monthly Treasury Statement released today.
Unlike May, when the federal government set a record for inflation-adjusted tax revenues collected in the first eight months of a fiscal year, the federal taxes collected through June did not set a record for inflation-adjusted tax revenues in the first nine months of a fiscal year.
While bringing in $2,468,827,000,000 in tax revenues during the first nine months of fiscal 2016, the federal government spent approximately $2,869,674,000,000running a deficit of $400,847,000,000.
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Here’s some more for ya! :)
You know, pretty soon someone is going to notice this...
Has the self-proclaimed “extremely intelligent, self-important” one figured out that killing small businesses kills the amount of taxes that they can pay in yet? Didn’t think so. He’s an economist expert ya know.
Because Ryan gave O everything he wanted plus
Now, I'm just an engineer - but if I do my math, that's about a $1.22 trillion increase in debt, meaning the actual deficit - the money we spent that we needed to borrow to cover - was about 3 times higher than that reported here.
We'll see an actual deficit of $1.5 trillion by the end of FY2016...
PS: I figure the actual deficit, the real cash-flow shortage, is simply the amount your debt goes up. All the unpaid bills, excess spending, credit usage, all must be covered by debt of some form. And that all adds the the total Federal debt. Only talking about "on budget" items allows DC to ignore debt from Social Security, or Medicare, or other "off budget" expenditures.
Just like payroll taxes did not match employment claims, not even close.
Np problem. Just print up more, and drive down the value of whatever people have managed to save.
But government spending did improve GDP numbers.
So they took less from the productive as productivity declines.
Seems those monthly statements come w/ a lot of noise/static:
I mean, technically in the month of June the O admin had a budget surplus!
In federal lingo, “deficit” is current fiscal year revenues minus current fiscal year expenses. “debt” is the sum over all fiscal years.
It sounds like what you’re talking about is “interest on the debt.”
Well, I’m looking at the increase in the debt. And to the best of my knowledge, the only way debt can increase is if your expenses outweigh your revenue.
The “Federal Deficit” is just the “on-budget” items which do not include Social Security, or the Post Office, or several other Federal spending programs that have been decreed to be “off budget”.
But when you take revenue and subtract expenses, the shortfall of revenue becomes debt - we sell bonds to cover it. And that’s gone up by $1.2 trillion so far this year.
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