$5,630,859,000,000: Federal Spending Has Already Set Annual Record; Deficit at Record $2,807,295,000,000
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(Worthy News) – The federal government set records for the amount of money it spent and the size of the deficit it ran up in the first ten months of fiscal 2020 (October through July), according to data released today in the Monthly Treasury Statement.
In fact, the $5,630,859,000,000 the federal government spent in the first ten months of this fiscal year is more than the government has ever spent in any previous full fiscal year.
Before this year, the record for federal spending happened in fiscal 2019, when the Treasury spent $4,487,143,040,000 in constant July 2020 dollars. [ Source: CNS News (Read More…) ]
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