The federal government spent a record $3,355,970,000,000 in the first nine months of fiscal 2019, according to the Monthly Treasury Statement released today.
Prior to this fiscal year, the most the federal government had ever spent in the October-through-June period was in fiscal 2018, when the Treasury doled out $3,199,795,700,000 in constant June 2019 dollars.
The most the federal government had ever spent in the first nine months of the fiscal year was in fiscal 2009, when it spent $3,176,577,910,000.
Total federal tax revenues in the first nine months of fiscal 2019 hit $2,608,855,000,000.
The difference between the $2,608,855,000,000 in total taxes collected in the first nine months of this fiscal year and the record spending of $3,355,970,000,000 left the government with a deficit of $747,115,000,000.
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 $901,867,000,000 in federal spending in the first nine months of the fiscal year.
The combined $1,724,860,000,000 the federal government spent on HHS and the Social Security Administration during the first nine months of the fiscal year equaled 51.4 percent of the record total of $3,355,970,000 in federal spending during the period.
https://www.cnsnews.com/news/article/terence-p-jeffrey/3355970000000-federal-spending-sets-record-through-june-deficit-hits
Prior to this fiscal year, the most the federal government had ever spent in the October-through-June period was in fiscal 2018, when the Treasury doled out $3,199,795,700,000 in constant June 2019 dollars.
The most the federal government had ever spent in the first nine months of the fiscal year was in fiscal 2009, when it spent $3,176,577,910,000.
Total federal tax revenues in the first nine months of fiscal 2019 hit $2,608,855,000,000.
The difference between the $2,608,855,000,000 in total taxes collected in the first nine months of this fiscal year and the record spending of $3,355,970,000,000 left the government with a deficit of $747,115,000,000.
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 $901,867,000,000 in federal spending in the first nine months of the fiscal year.
The combined $1,724,860,000,000 the federal government spent on HHS and the Social Security Administration during the first nine months of the fiscal year equaled 51.4 percent of the record total of $3,355,970,000 in federal spending during the period.
https://www.cnsnews.com/news/article/terence-p-jeffrey/3355970000000-federal-spending-sets-record-through-june-deficit-hits
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