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What's Obama's game? With record tax revenue, the government is STILL putting the American people deeper in debt!

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By Matt Waterson (NEWS CONSORTIUM)
12/11/2014 (4 years ago)
Catholic Online (https://www.catholic.org)

In first two months of fiscal year 2015, government ads another $178 billion in debt

It is a well known truth that the U.S. government, especially under the administration of President Obama, loves to spend, and for the first two months of the fiscal year 2015 the government set a new record in taking your money.

The U.S. government took in a record $400 billion for the first two months of the 2015 fiscal year, but still managed to add nearly $2 billion to the current U.S. deficit.

The U.S. government took in a record $400 billion for the first two months of the 2015 fiscal year, but still managed to add nearly $2 billion to the current U.S. deficit.

Highlights

By Matt Waterson (NEWS CONSORTIUM)
Catholic Online (https://www.catholic.org)
12/11/2014 (4 years ago)

Published in U.S.

Keywords: Taxes, IRS, Obama, U.S., Government, Economics, Debt


LOS ANGELES, CA (Catholic Online) - Through October and November-the first two months of the fiscal year-the government took in $404,155,000,000 in total receipts, the Treasury Department's Monthly Treasury Statement revealed.

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If measured against constant 2014 dollars, then this is the first time that tax revenues have brought in over $400 billion to the government in just the first two months of a fiscal year.

The U.S. government took in a record $400 billion for the first two months of the 2015 fiscal year,

The U.S. government took in a record $400 billion for the first two months of the 2015 fiscal year, but still managed to add nearly $2 billion to the current U.S. deficit.


This is still not enough to make up for the gross and rampant spending the government has made a habit of, and in that same time the feds ran up a deficit of $178.531 billion by spending about $582.6 billion.

In more manageable terms, this means that in October and November, the Treasury spent $1.44 for every $1 it brought in through taxes, or about $5,030 per household in the United States.

The U.S. government took in a record $400 billion for the first two months of the 2015 fiscal year,

The U.S. government took in a record $400 billion for the first two months of the 2015 fiscal year, but still managed to add nearly $2 billion to the current U.S. deficit.


In this same example, every household in the U.S. is now saddled with $1,541 in debt for just two months of spending!

This trend is a continuation of the spending policies the government practiced in the 2014 fiscal year. Then, the Treasury brought in a record of $3,020,809,000,000 in revenue, but still managed to run up a deficit of $483,336,000,000 by spending a little more than $3.5 trillion.

Over the last two months, individual income tax made the most money for the government, bringing in $192.6 billion. Taxes on Social Security, Medicare and retirement benefits brought in another $146.2 billion, and corporate income taxes brought in $12.8 billion.

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