Federal Taxes and Spending Set Records Through February
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(Worthy News) – The federal government set records for both the amount of taxes it collected and the amount of money it spent in the first five months of fiscal 2020 (October through February), according to data released today in the Monthly Treasury Statement.
During the October-February period, the government spent a record $1,991,272,000,000 while it collected a record $1,366,750,000,000 in taxes.
Thus, while running up records in taxing and spending for the first five months of the fiscal year, the federal government also ran a deficit of $624,522,000,000. [ Source: CNS News (Read More…) ]
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